THE EmpowerBank’s gross lending increased by 159 percent to $61 million in 2020, driven by appetite for credit among its target customer-base, the youth.
This comes as most banks have adopted a cautious approach to lending, with the average prudential liquidity ratio remaining high at around 70 percent, according to Reserve Bank of Zimbabwe (RBZ) governor John Mangudya.
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“The loan book grew from $5 million to $61 million from 2019 to 2020 in historical terms and in inflation-adjusted terms, this was ab159 percent growth,” Rudo Kumirai, EmpowerBank’s board vice chairperson said in the institution’s results for the year ended December 31
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