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SA December credit extension up 10.09%

Johannesburg – Credit extension to the private sector (PSCE) grew by 10.09% year on year in December‚ from a 9.59% increase in November‚ South African Reserve Bank (SARB) figures released on Wednesday showed.

The rate of growth in SA’s broad M3 money supply measure slowed to 5.17% year on year in December from a 6.26% year on year growth in November.

PSCE was expected to have increased by 9.76% year on year according to a survey by I-Net Bridge‚ while M3 was expected to have increased by 6.1%.

Total loans and advances‚ which is PSCE excluding investments and bills discounted‚ recorded a 9.96% year on year growth in December from 9.86% year on year growth in November.

Total domestic credit extension amounted to 10.63% year on year in December from a 9.78% year on year increase in November.

The SARB also indicated that its international liquidity position fell slightly to US$47.948bn in December from $48.431bn in November. - I-Net Bridge

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