The third quarter of 2021 saw a respite amid the ongoing pandemic. Assets of the country’s 44* universal and commercial banks (U/KBs) rose by 8.97% year on year during the period, the fastest pace in eight quarters or since the 9.89% growth logged in the third quarter of 2019.

Total loans held by the country’s largest banks likewise recovered. Aggregate loans in the three months to September went up by 3.24%, snapping four consecutive quarters of decline. Still, this was a far cry from double-digit expansions in loans recorded before the pandemic.