Came down to 8.6 per cent from 9.5 per cent the previous monthPrivate sector credit growth decelerated further in October due to the lower demand from businesses, which are putting all investment plans on hold in anticipation of a second wave of coronavirus in winter. In October, private sector credit came down to 8.6 per cent from 9.5 per cent the previous month, according to the data from the Bangladesh Bank. “Private sector credit growth would not increase much until March next year as our economy and businesses are not fully recovered,” said Syed Mahbubur Rahman, managing director of Mutual Trust Bank. The country’s banks were disbursing loans from several stimulus packages from June to September, which caused the uptick. As of October, total outstanding loans to the private sector stood at Tk 11,14,322.4 crore, according to the BB data.

Source: Dhaka Tribune November 26, 2020 18:22 UTC