Johannesburg - The value of new credit granted increased by R7.33 billion in the second quarter of 2013, according to a report released by the National Credit Regulator on Monday.
The Consumer Credit Market Report found that new credit increased to R109.62bn in June, from R103.29bn in March.
The number of applications received for credit increased by 232,000 from 10.12 million in March to 10.35m in June - an increase of 2.3 percent quarter-on-quarter and an increase of 5.96 percent year-on-year.
“Credit facilities, unsecured credit and short-term credit experienced a quarter-on-quarter decline while mortgages, secured credit and developmental credit grew in rand value terms,” the NCR said.
The total outstanding gross debtors book of consumer credit for the quarter was R1.47 trillion, representing a quarter-on-quarter growth of 1.07 percent.
Mortgages had the largest quarter-on-quarter growth of 20.21 percent, R5.06bn, compared to other credit types.
The value of new mortgages granted increased from R25.04bn to R30.10bn.
Secured credit, which was dominated by vehicle finance, increased from R35.19bn for March to R37.5bn for June, a quarter-on-quarter increase of 6.69 percent.
Unsecured credit had a quarter-on-quarter decrease of 2.34 percent and credit facilities, which consisted mainly of credit cards, store cards and bank overdrafts, decreased by 0.58 percent quarter-on-quarter.
Another NCR report released on Monday, the Credit Bureau Monitor, found that credit bureaux held records for 20.21m credit-active consumers, an increase of 0.6 percent from the previous quarter.
Consumers classified in “good standing” decreased by 31,000 to 10.52m while the number of consumers with impaired records increased from 9.53m to 9.69m.
The number of accounts increased from 70.73m in the previous quarter to 71.20m, while the number of impaired accounts increased from 18.31m to 18.87m.
The number of credit reports issued to consumers increased from 145,720 to 160,702. - Sapa