South Africa Banks Slow Unsecured Loan Growth After Intervention

South Africa’s banks have slowed growth in unsecured lending since a November warning, according to the central bank.

Such loans, which aren’t backed by assets, increased by about 25 percent annually in March, down from 30 percent in November, Hendrik Nel, in charge of the financial stability unit at the central bank, said at an event in Johannesburg today. The bank’s supervision department met with the nation’s lenders last year, Rene van Wyk, registrar of banks, said.