Unsecured Lending

​Unsecured lending ‘has had a bad rap’

Capitec, in September last year, said it would reduce interest rates on longer-term unsecured loans from 28% to about 20% over the next five years.

Unsecured lending: The underwriting was on the wall

African Bank's plight seemed to come as a shock, but banks started tightening up credit a year ago.

New P2P lending platform gives SMEs a boost

The evolution of peer-to-peer lending platforms has given small businesses another way to access financing despite renewed lending scrutiny.

African Bank chief exec quits

Head of the country's largest unsecured lender, Leon Kirkinis, has stepped down with immediate effect as the bank plans a capital increase.

Banks flee risky loan business

Thanks to increased caution, SA banks have managed to decrease impairments in the past year.

African Bank underestimates soured loans, slides to loss

The unsecured lender's interim results show a loss of R4.4-billion as its customers struggle to repay loans.

Capitec gears up for more bad debt

The country's second largest lender of unsecured loans is setting aside more money for bad debt as mine strikes and a slow economy hit consumers.

Holdings of bonds in unsecured lenders ‘wind down’

Old Mutual has halted bond purchases from unsecured lenders, while Futuregrowth Asset Management will "wind down' holdings of bonds with the lenders.

Capitec battens down the hatches ahead of the storm

The second largest player in the unsecured lending credit sector reports a 20% increase in first half earnings.

African Bank rated best buy by analysts

South Africa's biggest unsecured lender is rated highly despite increasing bad debt

Credit sector shows some growth

The uptick in credit sector has been driven by the demand for unsecured loans, but the reserve bank is not concerned.

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