Zimbabwe Bank Loans Rose More Than Tenfold in ’10, Newsday Says

Zimbabwe’s banks lent more than $1.5 billion last year, up from $120 million in 2009, Newsday said, citing Ngonidzashe Murota, a representative with the Bankers’ Association of Zimbabwe and an economist with CBZ Bank Ltd.

Deposits grew to more than $2.5 billion at the end of last year from $400 million in March 2009, Murota said, the Harare- based newspaper reported on its website.

To contact the reporter on this story: Brian Latham in Durban at blatham@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.

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