SA Banks

Banks

Annual growth rates in the SARB’s gross loans and advances category accelerated from 1.9% in August to 3.7% in September. Retail annual loan growth of 5.9% has remained in line with August with corporate faring considerably better (0.6% vs -3.3%), but still lags significantly. On our methodology, industry advances growth was 3.2 % YoY, 2.2% YTD and 0.6% MoM, all accelerating on the August data. Annual SARB loan growth has exceeded deposit growth (3.2%) in September, but as a ratio remains near lows.

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