Private sector credit demand slows

Monday, 11 November 2024 04:27 - - {{hitsCtrl.values.hits}}

Private sector credit demand in September lagged from a recent high in the previous month.

The Central Bank said credit to the private sector grew by Rs. 89 billion in October, up by 8.9% year-on-year, as opposed to Rs. 135 billion in August.

Cumulative outstanding credit of the private sector amounted to Rs. 7.796 trillion, up from Rs. 7.707 trillion in August.

An analyst said private sector credit demand remains robust, supported by lower market lending interest rates and anticipated recovery in domestic economic activity.