The total value of new credit granted declined from R51, 87 billion at the end of the first quarter to R50.93 billion at the end of the second quarter. This indicates that after a period of ongoing decline in the volume of credit granted, credit volumes may have stabilized.

Mortgages granted showed the biggest decline, from R42.69 billion in June 2008 to R17.66 billion in June 2009.

Secured credit which mostly consists of vehicle finance declined from R25.78 billion in June 2008 to R18.78 billion in June 2009.

Individuals who earn gross monthly income of more than R15, 000 per month received on average 80% of the number of mortgages granted over the period June 2008 to June 2009.

As at June 2009, the total outstanding (or gross debtors’ book) for consumer credit was R1.14 trillion. The breakdown was as follows:

Mortgages accounted for R732.13 billion

"Secured credit agreements" was R220.40 billion

Ccredit facilities were R140.18 billion

Unsecured credit was R50.13 billion

Short-term credit was R594.50 million

The banks’ share of the total outstanding consumer credit as at June 2009 was R1, 02 trillion:

Retailers at R38,29 billion

Non-bank vehicle financiers at R37,01 billion

“Other credit providers” at R43,81 billion

Other credit providers consist primarily of pension backed lenders, insurers, non-bank mortgage lenders and securitized debt.