Zimbabwe: Lending, Deposit Rates Gap Widening - AFDB

THE disparity between lending and deposit rates in Zimbabwe is widening, dampening the already weak savings culture in the country and its economic recovery, according to the African Development Bank (AfDB).

In its January economic review, AfDB said on average, lending rates were higher for individuals than for corporates, with commercial banks charging an average of 14,63 percent for individuals and 11,52 percent for corporates. Merchant banks were charging an average of 17,77 percent for individuals and 14,26 percent for corporates.

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