Credit applications up in first quarter – CBC

17 May 2019 2050 | Business & Trade Fairs

The number of consumer credit applications saw a substantial increase in the first quarter of the year, the Credit Bureau of Cambodia (CBC) said in its latest report published last week.

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CBC’s Consumer Credit Index Q1 showed that the number of consumer credit applications rose by about 11.5 percent compared to the previous quarter, driven mostly by personal loans and mortgage applications.

CBC noted that credit performance has recovered after a slump in the last quarter of 2018.

About 81 percent of all loans were personal loans. Mortgage loans represented 12 percent while credit card loans accounted for 7 percent.

CBC claimed that this ratio was not much different from the previous quarter and that similar levels of growth were seen across the Kingdom. In addition, it said that total consumer credit outstanding balance reached $6.70 billion, equal to almost 30 percent of total outstanding balance of individual loans in the market.