Dar es Salaam — The Bank of Tanzania (BoT) has published new measures which are aimed at increasing bank lending to the private sector - but doing so at a time when the banks have been directed to contain escalating Non-Performing Loans (NPLs). The measures are intended to improve growth of credit, which contracted last year from the highest growth rate of 24 per cent in early 2016.
NPLs have remained a major challenge to the banking sub-sector of the wider financial sector - reaching 11 per cent as of December last year. That was double the current regulatory requirement.
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