Monday, 9 November 2026Lusaka, Zambia
Zambia's Independent Voice on Technology, Economics & Markets
Banking & Liquidity

Liquid Assets Ratio

Banks’ core liquid assets (cash, current accounts, Treasury bills) as a share of their deposits.

59.07%Sep 2026−7.86 ppon the month−51.70 ppon the year
12-month average63.91
Record high176.64Apr 2022
Record low29.71Jan 2013
Observations164since Jan 2013

Liquid Assets Ratio, Jan 2013 to Sep 2026

050100150200201320152017202020222024202659.07

Show the numbers
MonthLiquid Assets Ratio (%)
Sep 202659.07
Aug 202666.93
Jul 202650.99
Jun 202649.59
May 202655.74
Apr 202653.02
Mar 202660.35
Feb 202669.14
Jan 202674.77
Dec 202560.91
Nov 202572.21
Oct 202594.25
Sep 2025110.78
Aug 2025126.18
Jul 2025153.06
Jun 2025118.13
May 2025115.26
Apr 202599.57
Mar 202590.46
Feb 202567.33
Jan 202559.92
Dec 202481.96
Nov 2024100.38
Oct 2024100.19
Sep 202495.54
Aug 2024131.00
Jul 2024136.00
Jun 2024128.72
May 2024100.33
Apr 2024104.46
Mar 202489.96
Feb 202491.10
Jan 202485.72
Dec 2023117.60
Nov 2023125.31
Oct 2023132.46
Sep 2023146.14
Aug 2023161.50
Jul 2023161.19
Jun 2023138.15
May 2023157.30
Apr 2023153.89
Mar 2023157.09
Feb 2023145.62
Jan 2023128.42
Dec 2022146.97
Nov 2022142.33
Oct 2022138.09
Sep 2022128.30
Aug 2022136.99
Jul 2022170.79
Jun 2022172.80
May 2022158.03
Apr 2022176.64
Mar 2022163.92
Feb 2022150.01
Jan 2022127.30
Dec 2021161.95
Nov 2021137.16
Oct 2021153.76
Sep 2021130.95
Aug 2021122.94
Jul 2021134.06
Jun 2021142.09
May 2021140.69
Apr 2021136.56
Mar 2021117.95
Feb 2021125.60
Jan 2021128.50
Dec 2020135.16
Nov 2020130.64
Oct 2020130.30
Sep 2020118.02
Aug 2020135.95
Jul 2020140.74
Jun 2020134.42
May 2020124.31
Apr 2020108.54
Mar 2020115.61
Feb 2020105.12
Jan 2020107.24
Dec 2019105.56
Nov 2019103.11
Oct 2019105.47
Sep 2019109.80
Aug 2019124.70
Jul 2019119.81
Jun 2019110.96
May 2019114.60
Apr 2019115.89
Mar 2019105.38
Feb 2019107.05
Jan 2019108.13
Dec 2018113.23
Nov 2018106.67
Oct 2018100.60
Sep 201895.87
Aug 201896.92
Jul 2018104.86
Jun 201897.17
May 201899.58
Apr 201898.56
Mar 201890.36
Feb 201889.34
Dec 201798.15
Nov 201791.66
Oct 201790.09
Sep 201788.13
Aug 201791.70
Jul 201787.19
Jun 201771.56
May 201781.51
Apr 201784.12
Mar 2017104.95
Feb 201776.04
Jan 201787.72
Dec 201687.21
Nov 201682.23
Oct 201686.17
Sep 201673.70
Aug 201674.85
Jul 201677.89
Jun 201698.67
May 201682.66
Apr 201694.70
Mar 201673.49
Feb 201658.06
Jan 201665.10
Dec 201579.19
Nov 201567.84
Oct 201579.54
Sep 201571.55
Aug 201567.17
Jul 201556.50
Jun 201573.49
May 201575.62
Apr 201573.53
Mar 201570.87
Feb 201568.70
Jan 201567.12
Dec 201465.93
Nov 201468.33
Oct 201457.26
Sep 201462.87
Aug 201463.63
Jul 201476.84
Jun 201453.04
May 201445.34
Apr 201445.33
Mar 201449.57
Feb 201449.97
Jan 201456.50
Dec 201347.72
Nov 201343.18
Oct 201340.93
Sep 201342.31
Aug 201343.78
Jul 201350.94
Jun 201346.19
May 201349.21
Apr 201348.07
Mar 201346.86
Feb 201347.10
Jan 201329.71

Source: Bank of Zambia. Monthly. Gaps in the line are months with no published figure.

Change on a year earlier

Each bar is this month against the same month twelve months before — the comparison that strips out the seasonal pattern.

-150-100-50050201420162020202220242026

IncreaseDecrease

Related analysis

View all

Nothing published on this indicator yet. KSJ analysis appears here as it is written.

More in Banking & Liquidity

View all
Required Liquid Assets Ratio6.00%0.00 ppm/m0.00 ppy/ySep 2026Statutory Reserve Ratio22.20%−0.15 ppm/m−4.37 ppy/ySep 2026Required Reserve Ratio21.00%0.00 ppm/m−5.00 ppy/ySep 2026Banks’ Current Account BalancesK7.0bn−8.9%m/m+35.7%y/ySep 2026Bank Deposits (Kwacha)K130.3bn+1.1%m/m+24.9%y/ySep 2026Bank Deposits (Foreign Currency)$4,624.1m+0.9%m/m+9.4%y/ySep 2026Banking System Claims on GovernmentK74.8bn−8.0%m/m+25.2%y/ySep 2026

Get the KSJ Brief

The stories that matter in Zambian business, technology and policy, in your inbox.

Free, no spam. Unsubscribe any time. See our privacy policy.