To contribute to this wise idea, banks will be begging people for loans. As a committee in loan focus group witha bank, CBN may increase loan to deposit ratio (LDR) from 65% to 75%. LDR is the percentage provision the bank is willing to give as loans out of its total cash deposit
with the apex bank. By implication, Nigerian banks to give N75 as loans for every N100 they have as deposits.
Mr Godwin Emefiele (CBN Gov), said the committee urged deposit money banks to increase the percentage of their total deposit base available for lending.
Mr Godwin Emefiele (CBN Gov), said the committee urged deposit money banks to increase the percentage of their total deposit base available for lending.
He said the committee underlined the need to grow consumer, mortgage (@Millishield fyi) and corporate credit to drive aggregate demand and ensure a reduction in unemployment and an increase in output growth.
This LDR policy will be subjected to quarterly review and Banks that fails to meet up above LDR will be sanctioned. Bury your hatred for this govt and think why big Banks now focus on retail business and now loan given to people without collateral?
Yes! Without collateral. Consumers can now access loans through USSD code. Just dial the banks USSD number and your account is funded immediately. Let me shock you, you dont need to be a customer of the bank to access such loan. This is a sign that Nigeria is getting better!
