CREDIT EXTENSION REFLECTS UPSURGE, INCREASE BY 4.9%
MBABANE - Trends in credit extension continue to reflect an upsurge, increasing by 4.9 per cent, amounting to E20.266 billion in the second quarter of 2024.
Credit extended to businesses (industry players) grew by 7 per cent, while household credit rose by 3 per cent. ‘Other sectors’ credit grew marginally by 0.1 per cent. In the quarter under review, distribution and tourism-related activities reflected a 20.1 per cent growth; manufacturing industries credit was up by 8.3 per cent; agriculture credit as well as transport and communication-related services credit growth accounted for a 1.9 per cent increase.
The increase in credit to these sectors can be reflective of a relatively supportive and expansionary economic activity. Credit extended to households grew by 3 per cent q-o-q and amounted to E8.776 billion in 2024 Q2. This was mainly driven by a rise in ‘other personal (unsecured)’ credit, which grew by 7.7 per cent as well as marginal lending for motor vehicles and housing, increasing by 0.9 per cent and 0.1 per cent, respectively.
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