The new lending policy for deposit money banks which prescribes a minimum Loan Deposit Ratio of 60%, effective 30th September 2019 is a move in the right direction says LCCI.
The LCCI sees this new lending policy as a timely policy intervention to normalize the credit markets, spur economic growth and broaden the interface between entrepreneurs and the banking system.
D.G, Lagos Chamber of Commerce and Industry, Muda Yusuf says the focus of the policy on SMEs, Retail, Mortgage and consumer lending under the proposed lending regime is laudable.
Advertisement
According Mr. Muda the quality of financial inter-mediation will be improved and this would impact the economy better as funding gaps in many sectors are addressed.
Related posts:
CBN Lending Policy will normalise Credit Market LCCI
CBN orders DMBs to maintain loan to deposit ratio of 60% by Sept. 30
CBN retains loan to Deposit Ratio at 65%
China to cut bank reserve ratio in bid to boost growth, markets
CBN lending policy will control credit markets- LCCI
Nigeria’s 2.1% economic growth to spur W/Africa’s 2019 forecast
Bahrain follows UAE to normalise ties with Israel
India govt cuts corporate tax from 30% to 22% to spur investment
