Consumer Credit Index Quarter 2, 2017
According to the CBC’s latest Consumer Credit Index Report, credit application seasonally dropped in the Q2 2017, but better performance than the same period last year. Despite the drop, coastal region saw an increase both credit card and mortgage application. However, the new loan disbursement increased at +4.19% in term of accounts and +6.59% in term of outstanding balance.
Consumer Credit Application: represents the intention of consumers to acquire credit in terms of personal finance, credit card or mortgage
The second quarter of this year, credit application saw a moderate drop of -15% compared to the first quarter (+29%), but better than the same quarter last year (-25%). The drop saw in all the 3 categories: credit card application (-18%), personal finance application (-15%), and mortgage application (-8%). Despite the drop in most regions, costal region is the only area which had an increase in credit card application (+100%) and mortgage (+3%).
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(The article is originally from CBC’s website)