Marginally lower growth in credit and mortgage balances

Growth in credit extension in the South African private sector slowed down to 7,8% year-on-year (y/y) in the first three months of 2013.  Outstanding credit balances in the household sector showed growth of 9,6% y/y up to March, largely driven by the components of unsecured credit and instalment sales, whereas growth in household mortgage balances tapered off further to 2,6% y/y.

Outstanding household credit balances is forecast to continue to grow in single digits in the rest of 2013 against the background of economic developments and prospects set to impact household finances and the demand for credit. [… Read More – Download Report Here …]

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