Research

Further uptick in household credit and mortgage balances growth

The first nine months of 2015 saw the value of outstanding credit balances in the South African household sector rising by 4,3% year-on-year (y/y). The further uptick in growth towards the end of September from the preceding month came on the back of faster growth in household secured credit balances, driven by higher growth in the component of mortgage balances, whereas growth in unsecured credit balances was somewhat lower at end-September from end-August.

Read more – ABSA – Credit and mortgage advances (Sep 2015)