THE Covid-19 pandemic devastated local banks’ lending to the private sector, but the lenders are still upbeat of a bright future, as the global economy normalises and the government takes measures to boost credit intermediation.
The bankers expressed the optimism here on Friday during the 20th Conference of Financial Institutions (COFI) and vowed to increase loans as a measure to boost productive activities and support post-pandemic growth recovery of the national economy.
The banks said they are fiscally fit to up the credit extending game as latest sectoral financials show and ready to lend at relatively lower interest rates.
However, the Chief Executive Officer of NMB Bank Plc, Ms Ruth Zaipuna, said the endeavour will pay off with required concerted efforts and collaborations to deliver the desired results.
“The Covid-19 pandemic has had adverse impact on credit to private…