NPS transactions reach $21 billion

THE total value of transactions processed through the National Payment System (NPS) rose to $21,2 billion during the week ended March 20 from $20 billion recorded the previous week, a central bank report has revealed.
The Reserve Bank of Zimbabwe (RBZ) said transactions processed through real time gross settlement (RTGS) amounted to $14,08 billion a 8,44 percent increase from $12,9 billion recorded during the week ending March 13.
In value terms, the distribution of NPS was RTGS 66,30 percent, mobile 23,34 percent, point of sale 10,21 percent, automated teller machine (ATM) 0,14 percent and cheque 0,01 percent.
“NPS transaction volumes rose by 4, 56 percent from 38,2 million in the previous week to 39,9 million during the week under review. In volume terms, the NPS transactions were distributed as follows: mobile 83,8 percent, point of sale (POS) 15,7 percent, ATM, 0,19 percent, RTGS, 0,54 percent and cheque 0,01 percent,” said RBZ.
During the week under review, minimum deposit rates for savings deposits and deposits of one month and three-month tenor remained unchanged at 2,36 percent, 2,82 percent and 3,82 percent respectively.
“Maximum deposits rates for savings deposits, deposits of one month and three-month tenor also remained unchanged at 4, 74 percent, 6,12 percent and 6,16 percent respectively,” RBZ said.
Minimum lending rates at commercial banks for individual clients softened to 18,76 percent during the week under review, from 18,91 percent recorded in the previous week.
Commercial bank minimum lending rates for corporate clients, however, increased by 0,5 percentage points to close at 17,87 percent.
Maximum lending rates for individual clients increased to 33,11 percent during the week ending March 20 2020, while those for corporate clients declined to 37,25 percent the same week.
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