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The Banking Sector in Zimbabwe

The report on the Zimbabwean banking industry covers the Reserve Bank of Zimbabwe and deposit-taking institutions such as commercial banks, co-operatives, microfinance institutions (MFIs) and building societies. In 2016 the financial services sector contributed about 7% to GDP and total banking sector assets grew by 9.6% from US$10.26bn in September 2017 to US$11.25bn at the end of 2017. Of the current 19 licensed banks, 14 are commercial banks, four are building societies and there is one merchant bank that has been in provisional judicial management since 2015. In the sector 189 licensed MFIs are active; 184 are credit-only and money-lending MFIs while five are deposit-taking MFIs. …