Ladies and Gentlemen, Our appeal to the banking sector is to put up strategies that will support and stimulate the private sector. Banks stand to benefit from a strong and vibrant private sector. The CBK has shown the industry the way by the recent successive reduction of the Central Bank Rate and Cash Reserve Ratio.
It is good and encouraging for banks to post healthy profits, but also good in tandem with that to reduce the lending rates to encourage the private sector lending and financing both investments, working capital and reducing the risks of default.