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Credit Report News, Tips & Advice « Credit Reports > Credit Report News > Figures On The NCR Report – An Increase In The New Credit Measure

Figures On The NCR Report – An Increase In The New Credit Measure

By Faye Mergel
Published: Tuesday, April 13th, 2010

KABLRM-00003049-001A quarterly review of the total value on granting new credit showed an increase in its value from June of 2009 at R50.92 billion to September of 2009 at R53.73 billion.

NCR – National Credit Regulator claims, “This is an increase of 5.51% compared to the previous quarter, though still a decline of 25.71% compared to the previous year”.

This new value credit update was released by NCR earlier on Wednesday as a part of the fourth Consumer Credit Report. NCR also proudly declared that as there was a drastic decrease in the number of these credit requests being granted, which eventually helped and maintained the credit volume graph over the year 2009.

Reports show a rise in the number of individuals who came forward to apply for loans at 4.13% when compared to the figures in June of 2009. The report has also shown a steady 44% of individuals who applied for credits and were not approved.

The National Credit Regulator reports an increase of 0.89% in the measure of various new credits and mortgages that have been granted. With the measure at R17.66 billion witnessed in 2009 June to R17.82 billion in 2009 September.

The National Credit Regulator also reported figures for its secured credit which were apparently related to credits given on the purchase of vehicles otherwise known as vehicle credit which also witnessed a rise from June of 2009 at R18.78 billion to R20.33 billion in September of 2009.

The report that was release also included figures showing unsecured credit at R7.17 billion in June of 2009 with an increase in September 2009 at R8.37 billion.

The numbers given by the National Credit Regulator’s report documents a financial credit given to consumers, who applied for mortgages, had nearly 80% of their mortgage approved as their monthly gross salary or income received was nearly R15 000.

According to the Gross debtor’s book that records a total outstanding consumer related credit balance as of 2009 September at R1.14 trillion. With its mortgages that amounted at a whopping R736.57 billion and its secure credit agreements at 18.73% nearly amounting to R214.09 billion.

The report also showed the various loans given to facilities at R214.09billion, R51.92 billion towards unsecured credits and its short term approved credit at R597.96 million.

NCR finally reports the total share of the credit given to various retailers with an outstanding of R37.48 billion compared to the total figures recorded for the month of September of 2009 at R1.02 trillion. Additional credit such as pension lenders, securitized debt, non-bank mortgage lenders sums at R44.32 billion.

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