Household credit and mortgage balances growth up on base effects

The value of outstanding credit balances in the South African household sector increased by 4,2% year-on-year up to the end of August 2015, with growth rising above the 4% level for the first time since July last year. This was the result of faster growth in the components of mortgage balances, overdrafts and general loans and advances, whereas growth in instalment sales balances dropped to its lowest level since May 2010. Read more – ABSA Credit and mortgage advances (Aug 2015)