Bankers Happy with Lending Levels

The Bankers Association of Zambia (BAZ) has said the lending levels by commercial banks have reached over K2 billion this year due to lower interests obtaining on the market.

BAZ executive officer David Chewe has said the Bank of Zambia policy rate of 9.25 percent has had a significant role in the increased lending levels.

Chewe said the average interest rate among banks is around 16 percent and that this has attracted more borrowing from customers.