Facts & Statistics

Finance and Banks in SA

• The percentage of adults in South Africa with a retail store card increased from 13.5% in 2004 to 16.2% in 2007 (AMPS trends)
  
  
• 21% of South African women have a store card. For men, the percentage is 14%. (AMPS 2007B RA)
  
  
• 44% of adults say the statement These days there is no point in saving for something, it is better to buy on credit is true or very true – AMPS 2007B RA
  
  
• 81% of South African households with daily per capita income of R500 or more have debt; for those below R500, 53% have debt. (Source: IES 2005/6)
  
  
• The disposable income of the over 40s market is estimated to be worth over R80 billion a year. (UCT Unilever Institute /Synovate Prime Time Study 2008)
  
  
• The highest correlation score of financial products for Chesterfield cigarette smokers was a retirement annuity product; the actual proportion was 19% compared to 6% for all adults. (Source: AMPS 2007B)
  
  
• 6.6 million households in South Africa have debt. Almost a third (31%) of these households have debt to the value of R10,000 or more. (Income and Expenditure Survey 2005/2006)
  
  
• For households which have debt to the value of R10,000 or more, 40% have vehicle finance and 37% are making bond repayments. (Income and Expenditure Survey 2005/2006)
  
  
• The average value of outstanding debt on bank overdrafts and credit cards is approximately R16,000 for households with per capita income of between R4200 and R8400 per month. For households with a per capita income of more than R8400 per month the corresponding amount is approximately R28,500. (Income and Expenditure Survey 2005/2006)
  
  
• The prime interest rate has increased from 11% to 15.5% in past two years (June 2006 to June 2008). The monthly installment for a R500,000 bond taken in June 2006 would have increased from R5,161 to R6,724 over the same period – an increase of 30%. (SARB)
  
  
• 42% of adults who have a bank home loan say that they have never heard of or do not understand debt counseling.(FinScope 2007)
  
  
• The average age of Nedbanks customers is 45. For each of Standard Bank, FNB, and ABSA, the average is closer to 40. (AMPS 2005 RA)



• The most common negative association with banks is the length of queues (mentioned by 68% of banked customers). The other major gripes are were response to queries is slow (33%), cant talk to senior people directly (32%), decisions take too long (29%) and ATMs only provide cash in large notes (29%) (Finscope 2005)



• Of all mortgage bond holders, ABSA has the biggest share at 34%. The largest share of new mortgage bonds go to Standard Bank, at 32% of new bonds (APMS 2005 RA)



• For those who are not banked, the main reasons are because they dont have a job (mentioned by 57% of unbanked people) and that they dont have regular income (43%) (Finscope 2005)



• There are nearly 1.5 million credit card holders in South Africa, (around 866,000 MasterCard and 640,000 Visa) (AMPS 2005 RA)



• 39% of home owners inherited their homes. 15% said that someone
  else paid, and 12% used mortgage bond finance. Other responses were: with money saved, with a government grant, proceeds from
  sale of another property. (Finscope 2005)
  
  
• In an emergency 53% of people said they would get money from
  family members in the household, 21% from family members not in the household, and 12% from banks. (Finscope 2005)
  
• 18% of South Africans use a store card to buy on account. 4%
  have a loyalty card that gives a cash-back benefit.
  
  [vtab]fact_det[/vtab][sort][/sort][pgsize]1[/pgsize][db]sql[/db] 1 1 0