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Johannesburg - Standard Bank Group [JSE:SBK] said it was on track to lift its domestic lending to more than R50bn this year, helped by slowly improving credit demand from individuals and businesses.
"Current indications are that we are on track to improve on last year's R50bn new loan payouts," said Peter Schlebusch, head of the bank's personal and business banking division.
Standard Bank said it is now South Africa's top mortgage and credit card lender, with a 31% share of both markets.
Shares of Standard Bank, Africa's largest bank by assets, were up 0.7% at R96.73 in Monday morning trade, outpacing a 0.4% decline in the benchmark Top-40 index of blue chips .JTOPI.
"Currently banks around the world are frequently criticised for being reluctant to lend. That reluctance is partly due to the blame attributed to them over the causes of the recession. But there is also legitimate concern because the ability of banks to lend is critical to lifting an economy," Schlebusch said.
He said new lending continued to be done at interest rates that were based on a thorough assessment of risk, but that were still fair and equitable to both client and bank.
"Many borrowers in the market are paying very high rates on loans while having their attention drawn to low transaction fees. We try to be as reasonable as circumstances allow in both lending and transactional business."
"Current indications are that we are on track to improve on last year's R50bn new loan payouts," said Peter Schlebusch, head of the bank's personal and business banking division.
Standard Bank said it is now South Africa's top mortgage and credit card lender, with a 31% share of both markets.
Shares of Standard Bank, Africa's largest bank by assets, were up 0.7% at R96.73 in Monday morning trade, outpacing a 0.4% decline in the benchmark Top-40 index of blue chips .JTOPI.
"Currently banks around the world are frequently criticised for being reluctant to lend. That reluctance is partly due to the blame attributed to them over the causes of the recession. But there is also legitimate concern because the ability of banks to lend is critical to lifting an economy," Schlebusch said.
He said new lending continued to be done at interest rates that were based on a thorough assessment of risk, but that were still fair and equitable to both client and bank.
"Many borrowers in the market are paying very high rates on loans while having their attention drawn to low transaction fees. We try to be as reasonable as circumstances allow in both lending and transactional business."
