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Managing debt responsibly in tough economic times
2013-10-16Staff Report 2 WINDHOEK - After the Bank of Namibia expressed concern recently over the increase in credit extension and the subsequent rise in household debt, Bank Windhoek has come out to say that as a responsible credit provider or lender it is committed to ensuring that its clients understand the conditions and financial implications of credit received. As a result Bank Windhoek has a very low client default rate, which the bank attributes to its firm commitment to applying prudent and responsible credit lending principles and understanding the unique needs and financial positions of clients who apply for credit. According to the bank, all its client credit applications are carefully assessed and the basic principles, such as affordability and a sound credit record are considered when determining whether the bank would grant the credit applied for within the bank’s normal guidelines. “Bank Windhoek has a team of qualified consultants who are there to assist and ensure that every client understands the bank’s lending policy. Bank Windhoek always acts in the best interest of the client. If a loan application is not granted, it will be for a good reason and with the best interest of the client at heart. Clients are advised to maintain a good credit history and to contact the bank without delay, should they be unable to honour their repayments, so that a new arrangement for repayment can be negotiated,” said Anton Smit, Executive Officer: Credit at Bank Windhoek. By Staff Reporter 2013-10-16Staff Report 2
