Banks lending rate to customers hits 29.13%

The maximum lending rate in the banking sector hit 29.13 per cent while savings deposit rates was 4.13 per cent as of the end of December 2022.

Figures obtained from the Central Bank of Nigeria on money market indicators revealed on Monday.

According to the report, prime lending rate was 13.85 per cent, while inter-bank call rate was 12 per cent.

Treasury bill rate was 4.35 per cent, one month deposit rate was 8.15 per cent, three months deposit rate was 3.79 per cent, six months deposit rate was 8.68 per cent, while 12 months deposit rate was 8.22 per cent.
NICA said many MSMEs were contending with several economic factors while running their ventures.
Credit : Punch News.