Value of new credit granted increases
The total value of new credit granted increased from R75.14 billion for the quarter ended September 2010 to R83.53 billion for the quarter ended December 2010, an increase of 11.17% when compared with the previous quarter, but 31.97% higher than a year ago.
Recent data from the Federal Reserve revealed that US consumer credit increased by $16.2 billion in January, the most in five months, led primarily by student and auto loan growth.