Analyst Pin-board Banking sector – Expecting temporary slowdown in credit growth
- Credit expansion was resilient in June as well as the first half despite the outbreak of the COVID-19.
- We project a 9.5-10.5% year-to-date credit growth for the third quarter, driven by lower lending interest rates, the uneven impact of the pandemic on demand and easing lockdowns.
- The latest lending rate reduction is likely to lead to pressure on NIM for a quarter, since the headroom for cutting operating expenses is not abundant and the SBV is looking forward to stabilizing deposit rates.
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