{"id":14076,"date":"2012-08-31T03:29:35","date_gmt":"2012-08-31T01:29:35","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/update-1-firstrand-ceo-says-unsecured-lending-a-concern\/"},"modified":"2012-08-31T03:29:35","modified_gmt":"2012-08-31T01:29:35","slug":"update-1-firstrand-ceo-says-unsecured-lending-a-concern","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-firstrand-ceo-says-unsecured-lending-a-concern\/","title":{"rendered":"UPDATE 1-FirstRand CEO says unsecured lending &#8216;a concern&#8217;"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Add details)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Aug 30 (Reuters) &#8211; The recent surge in<br \/>\nunsecured lending in South Africa is a concern, particularly<br \/>\namong lower-income consumers, the head of FirstRand Ltd<br \/>\nsaid on Thursday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There has to be concern about the level of growth,<br \/>\nparticularly in the mass market,&#8221; Sizwe Nxasana, the chief<br \/>\nexecutive of the country&#8217;s second-largest bank, said at an<br \/>\ninvestment conference.<\/p>\n<p><span><\/span><\/p>\n<p>Banks in Africa&#8217;s top economy have been pushing into the<br \/>\nlucrative unsecured loan market, which relies solely on the<br \/>\ncustomer&#8217;s promise to pay back debt, to offset weak corporate<br \/>\ndemand for credit.<\/p>\n<p><span><\/span><\/p>\n<p>However, household debt stands at a dangerously high level of<br \/>\n70 percent of disposable income, and the central bank fears that<br \/>\nmay get worse as banks expand into the sector.<\/p>\n<p> (Reporting by David Dolan and Tiisetso Motsoeneng; Editing by<br \/>\nJon Herskovitz)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Add details) JOHANNESBURG Aug 30 (Reuters) &#8211; The recent surge in unsecured lending in South Africa is a concern, particularly among lower-income consumers, the head of FirstRand Ltd said on Thursday. &#8220;There has to be concern about the level of growth, particularly in the mass market,&#8221; Sizwe Nxasana, the chief executive of the country&#8217;s second-largest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-14076","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=14076"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14076\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}