THE current economic stability should be sustained so as to enable the banking sector to start lending long term, according to Standard Bank acting chairman, Ian Mackenzie.
Analysing the bank's financial results in which it reversed a loss of US$3,7 million in 2009 to a profit after tax of US$8,4 million in the year ending December 31 2010, Mackenzie said increased savings pursuant to economic stability would facilitate structured medium to long term lending to industry.
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