Johannesburg - The number of consumers with bad debts increased slightly in the quarter to December, indicating that recovery from indebtness was still fragile.
The National Credit Regulator (NCR) said on Wednesday that while most "credit active" consumers were in good standing, there was a small increase in those with "impaired" credit records.
Nomsa Motshegare, acting CEO of the NCR said that the statistics from credit bureaus for the quarter indicate a minor decline in consumer credit standing.
Of the 18.51 million credit-active consumers, 53.5% (9.90million) were classified as in good standing.
The number with impaired records increased to 8.61 million in the quarter. This indicates a deterioration in the credit records of 120 000 (0.2%) consumers quarter-on-quarter and 426 000 (1.2%) year-on-year, the NCR said.
Credit bureaus create profiles of consumers based on data from financial institutions, courts and utility service providers. The NCR monitors and regulates registered credit bureaus.
The National Credit Regulator (NCR) said on Wednesday that while most "credit active" consumers were in good standing, there was a small increase in those with "impaired" credit records.
Nomsa Motshegare, acting CEO of the NCR said that the statistics from credit bureaus for the quarter indicate a minor decline in consumer credit standing.
Of the 18.51 million credit-active consumers, 53.5% (9.90million) were classified as in good standing.
The number with impaired records increased to 8.61 million in the quarter. This indicates a deterioration in the credit records of 120 000 (0.2%) consumers quarter-on-quarter and 426 000 (1.2%) year-on-year, the NCR said.
Credit bureaus create profiles of consumers based on data from financial institutions, courts and utility service providers. The NCR monitors and regulates registered credit bureaus.