Banks Are Loving The Cash Crisis: Here Is Why

By Alvine Chaparadza

Indicated by substantial profits, last year was a prosperous year for all banks in Zimbabwe. Cautious but shrewd lending among other factors has contributed for banks to post these profits. However, the overall banking sector is decreasing its lending to households.

From 2016 up to now Zimbabwe is grappling with cash shortages and the cash shortages have come with unintended consequences that have seen bank’s non-interest income surging. Non-interest income is income earned by banks from the fees they charge and commissions. The fees range from transaction fees, insufficient funds fees, monthly service charge fees …read more

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