{"id":18612,"date":"2022-12-21T10:49:22","date_gmt":"2022-12-21T10:49:22","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/all-news\/housing-loans-decline-while-vehicle-loans-increase"},"modified":"2022-12-21T11:39:50","modified_gmt":"2022-12-21T11:39:50","slug":"housing-loans-decline-while-vehicle-loans-increase","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/housing-loans-decline-while-vehicle-loans-increase","title":{"rendered":"HOUSING LOANS DECLINE WHILE VEHICLE LOANS INCREASE"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>Statistics have indicated that loans for houses have witnessed a decline while motor vehicle loans are on the increase.<\/b><\/p>\n

This is according to the Central Bank of Eswatini monthly statistical release report shared by the bank yesterday.<\/p>\n

It was disclosed that the credit extended to households and non-profit institutions serving households fell by 0.2 per cent month-on-month and grew by 4.2 per cent year-on-year to settle at E7.9 billion at the end of October 2022.<\/p>\n

It was further explained that the month-on-month contraction was observed in housing loans, which fell by 0.7 per cent to settle at E3.9 billion at the end of October 2022. \u201cMotor vehicle and other personal (unsecured) loans, on the other hand, rose by 0.5 per cent to E926.5 million and 0.4 per cent to E3.0 billion, respectively,\u201d the bank reported.<\/p>\n

It was further mentioned that credit extended to businesses stood at E8.4 billion at the end of October 2022, depicting an increase of 0.7 per cent month-on-month and 18.0 per cent year-on-year.<\/p>\n

The report indicates that growth in credit to businesses was evident in the following subsectors; manufacturing (7.7 per cent), mining and quarrying (4.9 per cent), real estate (2.5 per cent), construction (1.9 per cent), distribution and tourism (1.1 per cent) and transport and communication (1.0 per cent).<\/p>\n

\u201cThe increase was partly dampened by a fall in credit to the following subsectors; community, social and personal services (-21.7 per cent) and agriculture and forestry (-0.02 per cent),\u201d reads the report.<\/p>\n

According to statistics shared by the bank credit extended to the private sector amounted to E17.0 billion at the end of October 2022, depicting a decline of 0.2 per cent relative to September 2022, however, grew by 4.9 per cent over the year.<\/p>\n

It was mentioned that the month-on-month contraction in private sector credit was driven by credit to other sectors of the domestic economy and households and non-profit institutions serving households (NPISH). Credit to businesses however, increased over the month under review.<\/p>\n

The report stated that credit extended to other sectors amounted to E722.3 million at the end of October 2022, down by 10.6 per cent month-on-month and 52.8 per cent over the year. The decline was driven by credit to other financial corporations and public nonfinancial corporations, which fell by 16.3 per cent and 1.5 per cent, respectively.<\/p>\n

The figures show that credit to local government however, improved by 3.3 per cent over the month under review. According to an economist the speed and level to which rates have climbed this year have greatly reduced refinance activity and exacerbated existing affordability challenges in the purchase market hence the decline in some loans.<\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. Statistics have indicated that loans for houses have witnessed a decline while motor vehicle loans are on the increase. This is according to the Central Bank of Eswatini monthly statistical release report shared by the bank yesterday. It was disclosed that the credit extended to households and non-profit institutions serving households fell […]<\/p>\n","protected":false},"author":84,"featured_media":18611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[234,248,249],"class_list":["post-18612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\nHOUSING LOANS DECLINE WHILE VEHICLE LOANS INCREASE - Eswatini<\/title>\n<meta name=\"description\" content=\"Statistics have indicated that loans for houses have witnessed a decline while motor vehicle loans are on the increas ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/housing-loans-decline-while-vehicle-loans-increase\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HOUSING LOANS DECLINE WHILE VEHICLE LOANS INCREASE\" \/>\n<meta property=\"og:description\" content=\"Statistics have indicated that loans for houses have witnessed a decline while motor vehicle loans are on the increas ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/housing-loans-decline-while-vehicle-loans-increase\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-21T10:49:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-21T11:39:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2022\/12\/postQueueImg_1671608044.33.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"409\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/housing-loans-decline-while-vehicle-loans-increase#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/housing-loans-decline-while-vehicle-loans-increase\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"HOUSING LOANS DECLINE WHILE VEHICLE LOANS INCREASE\",\"datePublished\":\"2022-12-21T10:49:22+00:00\",\"dateModified\":\"2022-12-21T11:39:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/housing-loans-decline-while-vehicle-loans-increase\"},\"wordCount\":433,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/housing-loans-decline-while-vehicle-loans-increase#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2022\/12\/postQueueImg_1671608044.33.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/housing-loans-decline-while-vehicle-loans-increase#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/housing-loans-decline-while-vehicle-loans-increase\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/housing-loans-decline-while-vehicle-loans-increase\",\"name\":\"HOUSING LOANS DECLINE WHILE VEHICLE LOANS INCREASE - 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