Research

Low growth in household credit and mortgage balances continues

Growth in the total value of outstanding credit balances in the South African household sector slowed down further to 3,3% year-on-year (y/y) at the end of in February 2015 to its lowest level since January 2010. Growth in both household secured and unsecured credit balances was lower at end-February compared with the same month a year ago.

ABSA Credit and mortgage advances (Feb 2015)