Business

BoZ to engage banks on non-performing loans

KABANDA CHULU, Lusaka
BANK of Zambia (BoZ) has taken a deliberate step by engaging banks to address the challenges posed by the increasing levels of non-performing loans to avoid sending wrong signals to potential investors in the banking sector.

Recently, Bankers Association of Zambia chief executive Leonard Mwanza disclosed that non-performing loans have surpassed the allowable limit of below 10 percent and currently stood at 12.4 percent of the average bank loan book of many banks.

When asked about the negative impact to the banking industry, BoZ deputy governor Bwalya Ng’andu said it becomes a risk when the limit exceeds 10 percent.
“All banks have non-performing loans but the concern arises when the allowable limit is exceeded, and..http://epaper.daily-mail.co.zm/

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