NON-PERFORMANCE LOANS UP BY 7.5%
MBABANE – The banking sector’s non-performing loans (NPLs) grew by 7.5 per cent month-on-month to E1.2 billion.
This was highlighted by the Central Bank of Eswatini (CBE) Governor Dr Phil Mnisi who further shared that the private sector credit recovered from a 0.3 per cent decrease in April 2024 to 2.6 per cent month-on-month to record E19.8 billion at the end of May 2024. Credit to the business sector amounted to E10.1 billion in May 2024, reflecting a rise of 4.5 per cent month-on-month, while credit to the household and Non-Profit Institutions Serving Households (NPISH) sector marginally grew by 0.2 per cent to close at E8.6 billion at the end of May 2024. Meanwhile, in May 2024, driven by all sectors. As at July 12, 2024, gross official reserves stood at E11.6 billion equivalent to an import cover of 3.2 months. As at the end of June 2024, total public debt decreased by 1.2 per cent to E33.4 billion, an equivalent of 36.1 per cent of GDP, from E34.0 billion recorded in the previous month.
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