monetary policy report

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Banking Sector Developments Report – January 2021

Banking Sector Developments Report – January 2021

Assessment of the banking sector performance in 2020 showed that the industry somewhat withstood the first wave of the COVID-19 pandemic shock on the back of strong policy support and regulatory reliefs. Banks also passed on some reliefs to customers in the form of loan restructuring and moratoriums to cushion businesses severely impacted by COVID-19.