Strong corporate demand drives improvement in credit growth

Credit demand accelerated faster than expected in August, growing 4.9% year on year, up from 3.5% in July and beating the Bloomberg consensus forecast of 4.25%.

Private sector credit extension (PSCE) data released by the SA Reserve Bank on Monday showed credit growth improved across almost all subcategories. Still, the strongest growth was in credit uptake by corporates, which comprises over half of total PSCE — that increased to 6.5% year on year from 3.7% previously...

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