| 2023-04-01 . THE nine commercial banks in Namibia last year made a combined profit of N$3 billion – an increase of 33,5%, Bank of Namibia (BoN) data shows. This massive increase according to the central bank was primarily due to the higher interest earned on loans, following the increase in the repo rate during 2022, coupled with the growth in loans advanced to customers. The BoN this week released its annual report, which shows that the commercial banks are indeed making a killing.The total income amounted to N$11,1 billion, representing a growth of 5,8%.

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