Private sector credit up 5.7%

07 March 2018 | Ekonomie
Ndama Nakashole - The total credit extended to the private sector realised a monthly increase of N$347.9 million in January 2018, the latest Money and Banking statistics released by the Bank of Namibia (BoN) reveal.

Data reveal that total private-sector credit rose to N$90.25 billion in January 2018 from the N$89.9 billion recorded in December 2017.

On an annual basis, January saw an increase of N$4.8 billion during the month under review from a total PSCE amount of N$85.4 billion recorded in January 2017. This represents an annual increase of 5.7% and shows that there was a 0.6 percentage point increase in the annual growth of the total credit extended to the private sector, as the total Private Sector Credit Extended (PSCE) recorded an annual increase of 5.1% in December 2017.

This shows a fluctuating private credit situation annually, as well as a growing monthly trend of PSCE annual growth, as November recorded a lower annual PSCE increase of 4.7%.

Individual credit

Individual credit stood at N$53.6 billion in January, a monthly increase of N$241 million from N$53.4 billion recorded in December 2017, and an annual increase of N$3.6 billion from N$49.9 billion recorded in January 2017. Overall, individual credit saw an annual increase of 7.4%, which is 0.7 percentage point higher than the 6.7% recorded in this category the previous month.

Loans and advances, overdrafts, mortgage loans and other newly introduced loans did not only drive the increase in the individual credit category but in the whole total PSCE, with monthly increases of N$187 million, N$115 million, N$66 million and N$5 million. Other types of credit in this sector saw an N$80 million monthly increase in January 2018.

While individual credit drove the overall PSCE, instalment credit in this category went down in January 2018 to N$7.14billion from N$7.17 billion the previous month, which represents a N$26 million drop on a monthly basis. Instalment credit also realised an annual drop from N$7.33 recorded in January 2017.

Another notable highlight in individual credit trends is that while leasing transactions went up by N$100 000 monthly from N$19.3 million to N$19.4 million in January 2018, it realised an annual drop of N$1.6 million from the N$21 million recorded in January 2017.

Business credit

January’s overall increase in business credit is much lower than that in individual credit, with many types of credit in this category recording both a monthly and annual decrease in January 2018.

Total credit to businesses stood at N$36.396 billion, a N$96 million monthly increase from the N$36.300 billion recorded in December 2017.

In this category, overdrafts, loans and advances, and leasing transactions went up in January 2018 by N$433 million, N$196 million and N$14 million respectively. The rest of the credit in business category saw a decrease, which helped calm down the total increase, which is highly driven by overdrafts and loans and advances.

Mortgage loans, newly introduced loans and advances, instalment credit and other claims all went down in January by N$102 million, N$135 million, N$97 million and N$16.8 million respectively.

Overall, claims on non-resident private sector went up by N$6.1 million in January 2018 to N$ 522.5 million from the N$516 million recorded in December 2017.

Soortgelyk

 

Mariental-monster kry 105 jaar

13 ure gelede | Howe

Hoërhof-regter Christie Liebenberg het die 34-jarige Gerald Henly Matlata vanoggend lewenslange tronkstraf opgelê vir moord, asook 80 jaar vir bykomende klagte. Dit sluit in twee...

Tienermeisie vermis

13 ure gelede | Polisie

Die 14-jarige Niita Fillemon word sedert verlede Woensdag vermis. Niita was met haar verdwyning in 'n swart broek en 'n geel t-hemp geklee. Sy is...

Nóg toeriste op grondpaaie beroof

15 ure gelede | Misdaad

Twee toeriste is Sondag onderweg na Sossusvlei deur ‘n groep mans van die pad afgedwing. Volgens hoofinspekteur Daniel Gurirab van die Namibiese polisie in...

Net ál nouer om Rooies

1 dag gelede | Plaaslik

Denver Kisting - ’n Maand nadat Republikein onthul het die aanklaer-generaal het gelas die oudlanddros mnr. Rooies Mostert moet vervolg word, het die Teenkorrupsiekommissie (ACC)...

Brand verwoes 9 kamers op Koedoeberg

1 dag gelede | Ongelukke

Henriette Lamprecht – Die Koedoeberg-gasteplaas se hoofgebou en wat onder meer die ontvangsarea, kombuis, kroeg en lapa gehuisves het, is Woensdagaand in ’n brand verwoes....

Weer vir 18 September 2018

1 dag gelede | Weer

WEERWAAK: Hittegolftoestande word in die noordelike streke verwag.BINNELAND: Gedeeltelik bewolk en baie warm in die Suide. Elders sal dit sonnig en baie warm wees,...

Ma en seun vandag weer voor hof

1 dag gelede | Howe

Denver Kisting'n Tienerseun is gistermiddag in die sorg van sy ma vrygelaat.Dít kom nadat dié 45-jarige ma gister op borgtog van N$1 500 vrygelaat is.Ma...

Man van halfmiljoen se items beroof

1 dag gelede | Misdaad

Tanja Bause Vyf gewapende mans het 'n man by sy huis in die hoofstad beroof en met items ter waarde van 'n halfmiljoen Namibiese dollar...

Walvis vrek ná reddingspoging

1 dag gelede | Omgewing

Tanja Bause - ’n Gestrande jong Antarktiese minkewalvis (Balaenoptera bonaerensis) is verlede Woensdag in Grosse Bucht by Lüderitz ontdek.Dié voorval is by mnr. JP Roux,...