According to the National Credit Regulator (NCR), credit extension in South Africa has declined. The value of new credit granted decreased by 2.67% quarter-on-quarter, while the number of credit agreements entered increased by 6.19%. Mortgages and unsecured credit saw a decrease in value, while secured credit and short-term credit experienced slight increases. While credit facilities and unsecured credit decreased quarter-on-quarter but increased year-on-year. The total outstanding consumer credit balances increased by 1.88% quarter-on-quarter. Despite this, the number of credit-active consumers and accounts rose, while impaired accounts decreased.
