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These reports are based on the data submitted to the NCR by registered credit providers and credit bureaux respectively. These latest editions of the reports cover credit market information up to June 2013.
Nomsa Motshegare, CEO of the NCR, said that the statistics reported for the quarter ended June 2013 indicate a moderate increase in the value of new credit granted.
She also encouraged consumers to live within their means and to use credit responsibly.
The CBM report showed that the credit bureaux held records for 20.21 million credit-active consumers, an increase of 0.6% when compared to the 20.08 million in the previous quarter.
Consumers classified in "good standing" decreased by 31 000 to 10.52 million consumers, a decrease of 0.5% quarter-on-quarter and 1.0% year-on-year.
The number of consumers with impaired records increased from 9.53 million to 9.69 million, an increase of 161 000 when compared to the previous quarter.
The number of accounts increased from 70.73 million in the previous quarter to 71.20 million. The number of impaired accounts increased from 18.31 million to 18.87 million when compared to the previous quarter, an increase of 564 000 quarter-on-quarter and 1.44 million year-on-year.
A total of 360.01 million enquiries were made on consumer credit records, a decrease of 8.7% quarter-on-quarter and an increase of 8.5% year-on-year. Enquiries initiated by consumers totaled 15.91 million, which was an increase of 4.3% quarter-on-quarter and 6.4% year-on-year.
Banks and other financial institutions accounted for 84.7% of all consumer enquiries, while retailers and telecommunication providers accounted for 5.6% and 4.1% respectively.
The number of credit reports issued to consumers increased from 145 720 to 160 702. About 80.7% (129 761) of those reports were issued without charge, while the balance of 19.3% (30,941) was issued with a charge.
There were 18 792 disputes lodged on information held on consumer credit records for the quarter ended June 2013, an increase of 11.4% quarter-on-quarter and 54.7% year-on-year.
The total value of new credit granted increased by R7.33bn (7.17%) from R102.29 billion for the quarter ended March 2013 to R109.62bn for the quarter ended June 2013.
Credit facilities, unsecured credit and short-term credit experienced a quarter-on-quarter declined, while mortgages, secured credit and developmental credit grew in rand value terms.
Mortgages had the largest quarter-on-quarter growth of 20.21% (R5.06bn) compared to other credit types. The number of applications received for credit increased by 232 000 from 10.12 million in March 2013 to 10.35 million in June 2013. This is an increase of 2.30% quarter-on-quarter and an increase of 5.96% year-on-year.
Trends for the quarter ended June 2013
- The value of new mortgages granted increased by 20.21% quarter-on-quarter from R25.04bn to R30.10bn;
- Secured credit, which is dominated by vehicle finance, increased from R35.19bn for March 2013 to R37.54bn for June 2013, a quarter-on-quarter increase of 6.69%;
- Unsecured credit decreased from R22.59bn for March 2013 to R22.06bn for June 2013, a quarter-on-quarter decrease of 2.34%;
- Credit facilities, consisting mainly of credit cards, store cards and bank overdrafts, had a decrease of 0.58% quarter-on-quarter from R16.73bn to R16.63bn.
- Short-term credit decreased from R1.59bn for the quarter ended March 2013 to R1.45bn for the quarter ended June 2013, a decrease of 8.80%.
- Developmental credit had a quarter-on-quarter increase of 59.28% from R 1.15bn to R 1.83bn.As at June 2013, the total outstanding consumer credit balances (or gross debtors' book) was R1.47 trillion, representing a quarter-on-quarter growth of 1.07% and a year-on-year growth of 7.58%.
Trends for outstanding balances
- Mortgages debtor's book increased from R798.48bn for quarter ended March 2013 to R799.41bn for the quarter ended June 2013, an increase of 0.12%;
- Secured debtor's book, which is dominated by vehicle finance, increased from R295.04bn for March 2013 to R300.93bn for June 2013, a quarter-on-quarter increase of 2.00%;
- Credit facilities debtor's book, which consists mainly of credit cards, store cards and bank overdrafts, had a quarter-on-quarter increase of 2.60% from R171.44bn to R175.90bn;
- Unsecured credit debtor's book increased from R164.61bn for March 2013 to R167.89bn for June 2013, a quarter-on-quarter increase of 2.10%;
- Short-term credit debtor's book decreased from R999.93m for the quarter ended March 2013 to R870.71m for the quarter ended June 2013, a decrease of 12.92%;
- Developmental credit debtor's book increased from R20.76bn for the quarter ended March 2013 to R21.71bn for the quarter ended June 2013, an increase of 4.57%.
The banks' share of the total outstanding consumer credit as at June 2013 was R1.25 trillion (85.45%), followed by the retailers at R36.91bn (2.52%), non-bank vehicle financiers at R51.81bn (3.53%), and "other credit providers" at R124.68bn (8.50%).
Other credit providers consist primarily of pension-backed lenders, insurers, non-bank mortgage lenders and securitised debt.
- Fin24
