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Credit growth quickens in November

Dec 31 2012 11:38
I-Net Bridge

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Johannesburg - Credit extension to the private sector (PSCE) grew by 9.59% year on year (y/y) in November‚ from 8.35% in October‚ South African Reserve Bank (Sarb) figures released on Monday showed.

The rate of growth in SA’s broad M3 money supply measure was 6.26% y/y in November from 5.69% y/y in October.

Total loans and advances‚ which is PSCE excluding investments and bills discounted‚ recorded an 9.86% y/y growth in November from 8.50% y/y growth in October.

Total domestic credit extension amounted to 9.78% y/y in November from an 8.01% y/y increase in the prior month.

The Sarb also indicated that its international liquidity position rose to $50.813bn in November from $48.626bn in October. 

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