The slower growth in deposits is possibly due to, among others, sluggish growth in incomes, inadequate financial inclusion, more streamlined procedures for government funding of parastatals and very low interest rates paid by banks on deposits. As funds available for lending become exhausted, it is inevitable that credit expansion would slow down.
However, credit has continued to grow at a robust pace, as evidenced by the January 2015 annual growth rate of 13 percent, which is higher than nominal economic growth. In situations of tighter liquidity, banks tend to tighten lending criteria, while taking  BIS central bankers’ speeches  1  measures to boost deposits.