SA credit performance low

2012-07-06 14:29

The number of South African consumers with impaired records remains on the rise, the National Credit Regulator (NCR) has said.

This was a finding of its Consumer Credit Market and Credit Bureau Monitor reports.

The NCR today said that of 19.49 million credit-active consumers, only 10.44 million were in good standing at the moment.

The reports found that the number of consumers with impaired records increased by 119 000 to 9.05 million in the first quarter of the year.

The total value of credit granted to consumers decreased by 11.69% in the same period.

There was also an 11.69% drop in new credit granted to consumers, and a 5.69% decrease in applications for credit from December 2011 to March 2012.

NCR chief executive Nomsa Motshegare said the decrease was evident for all forms of consumer credit and was partly due to seasonal factors.

The reports are based on data submitted by registered credit providers and credit bureaux and cover credit market information from March last year to March this year.

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