The total outstanding debt owed by consumers in South Africa increased by 0.31% quarter-on-quarter to R1.66-trillion‚ the National Credit Regulator (NCR) said on Thursday.
The NCR released the Consumer Credit Market Report’ (CCMR) and the Credit Bureau Monitor (CBM)‚ which are based on data submitted to the NCR by registered credit providers and credit bureaus respectively.
The latest edition of the reports covers credit market information up to June 2016.
The rise in the total outstanding debt‚ also known as the gross debtors book‚ showed an increase of 2.35% year-on-year.
The trends for outstanding balances for the quarter ended June 2016 were as follows:
- Mortgages debtors book increased by R2.70-billion (0.31%) for the quarter ended June 2016 and by R9.12-billion (1.06%) on a year-on-year basis.
- Secured credit debtors book increased by R4.08-million (1.1%) for the quarter ended June 2016. On a year-on-year basis‚ the book grew by R17.52-billion (4.91%).
- Credit facilities debtors book decreased by R206.14-million (0.09%) for the quarter ended June 2016 but increased by R7.47-billion (3.53%) on a year-on-year basis.
- Unsecured credit debtors book decreased by R2.44-billion (1.48%) for the quarter ended June 2016 but increased by R49.37-million (0.03%) on a year-on-year basis.
- The number of applications for credit decreased by 0.39% quarter-on-quarter from 9.99-million in March 2016 to 9.95 million in June 2016. The total value of new credit granted decreased marginally by 0.01% quarter-on-quarter from R108.33-billion to R108.32-billion.
- Credit bureaus held records for 24.08-million credit-active consumers‚ an increase of 0.85% when compared to the 23.88-million in the previous quarter. Consumers classified in good standing increased by 79 000 to 14.41-million consumers.
- The number of accounts decreased from 84.96-million in the previous quarter to 84.56-million for the same period. The number of impaired accounts increased from 19.92-million (23.45%) to 20.24-million (23.93%) when compared to the previous quarter‚ an increase of 314 000 quarter-on-quarter and 1.47-million year-on-year. – TMG Digital
SA consumers are R1.66-trillion in debt
The total outstanding debt owed by consumers in South Africa increased by 0.31% quarter-on-quarter to R1.66-trillion‚ the National Credit Regulator (NCR) said on Thursday.
The NCR released the Consumer Credit Market Report’ (CCMR) and the Credit Bureau Monitor (CBM)‚ which are based on data submitted to the NCR by registered credit providers and credit bureaus respectively.
The latest edition of the reports covers credit market information up to June 2016.
The rise in the total outstanding debt‚ also known as the gross debtors book‚ showed an increase of 2.35% year-on-year.
The trends for outstanding balances for the quarter ended June 2016 were as follows:
- Mortgages debtors book increased by R2.70-billion (0.31%) for the quarter ended June 2016 and by R9.12-billion (1.06%) on a year-on-year basis.
- Secured credit debtors book increased by R4.08-million (1.1%) for the quarter ended June 2016. On a year-on-year basis‚ the book grew by R17.52-billion (4.91%).
- Credit facilities debtors book decreased by R206.14-million (0.09%) for the quarter ended June 2016 but increased by R7.47-billion (3.53%) on a year-on-year basis.
- Unsecured credit debtors book decreased by R2.44-billion (1.48%) for the quarter ended June 2016 but increased by R49.37-million (0.03%) on a year-on-year basis.
- The number of applications for credit decreased by 0.39% quarter-on-quarter from 9.99-million in March 2016 to 9.95 million in June 2016. The total value of new credit granted decreased marginally by 0.01% quarter-on-quarter from R108.33-billion to R108.32-billion.
- Credit bureaus held records for 24.08-million credit-active consumers‚ an increase of 0.85% when compared to the 23.88-million in the previous quarter. Consumers classified in good standing increased by 79 000 to 14.41-million consumers.
- The number of accounts decreased from 84.96-million in the previous quarter to 84.56-million for the same period. The number of impaired accounts increased from 19.92-million (23.45%) to 20.24-million (23.93%) when compared to the previous quarter‚ an increase of 314 000 quarter-on-quarter and 1.47-million year-on-year. – TMG Digital
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