CreditDotCoZaa

The Consumer Credit Market Report for the 1st Quarter March 2021 is out.
The total value of new credit granted decreased from R154.42 billion to R138.81 billion for the quarter ended March 2021, a decrease of 10.11% when compared to the previous quarter and an increase of 9.86% year on year.
The following were some of the most significant trends observed for the quarter ended March 2021:
• The value of mortgages granted decreased by 13.40% quarter-on-quarter from R62.66 billion to R54.27 billion;
• Secured credit granted decreased from R47.51 billion for December 2020 to R40.95 billion for March 2021 (a quarter-on-quarter decrease of 13.82%);
• Unsecured credit agreements decreased from R22.82 billion to R20.13 billion for March 2021 (a quarter-on-quarter decrease of 11.77%);
• Credit facilities which consist mainly of credit cards, store cards and bank overdrafts increased from R17.74 billion to R19.66 billion for March 2021 (a quarter-on-quarter increase of 10.78%);
• Short-term credit showed a quarter-on-quarter decrease of 6.42% from R2.11 billion to R1.97 billion;
• Developmental credit showed a quarter-on-quarter increase of 16.61% from R1.57 billion to R1.83 billion.

Consumer Credit Market Report (CCMR) The NCR is tasked with the registration of credit providers, credit bureaux and debt counselors; and enforcement of compliance with the Act.

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