By KENNEDY MUPESENI –
THE single digit inflation  the country has attained  will lead to increased liquidity in the banking sector, Investrust Bank Zambia Plc chief operating officer Isaiah Chindumba  has said.
Mr Chindumba said in an interview in Kitwe recently that 2016 was a tough year for the banking sector due to high inflation rates which resulted in few customers accessing loans.
“With the country’s economic fundamentals changing for the better in 2017,we expect also liquidity to improve, last year appetite for borrowing  reduced due to high interest rates caused by high inflation,” he said.
Mr Chindumba said the bank was ready to continue providing relevant products and services to its clients.
He called for patience as rates could not be adjusted overnight but that things would be  changing following the adjustments in the reserve ratios and policy rates.
He said the bank has been always positive about the economy rebounding and that  was why the  bank embarked on capital mobilisation while introducing more products and services.
Mr Chindumba said last year the bank mobilised K140 million and introduced an electronic prepaid card for both customers and non-customers which he said was attracting a lot of clients among non accountholders.
“We mobilised K140 million last year to raise our capital base, we also introduced a lot of products like mortgages and an electronic prepaid card as part of preparation to meet the future,” he said.
Mr Chindumba said by so doing the bank was contributing to the country becoming a cashless economy.