South Africa unsecured lending

Absa Group, the Barclays-owned South African bank, has promised to tread carefully in South Africa’s booming unsecured lending market as it announced an unexpected 9 per cent decline in full-year earnings on Tuesday.

While the drop in earnings was caused by mortgage impairments and bad property loans, the Johannesburg-based bank also said in its 2012 results that it had seen “significant losses in market share” for personal loans, but was “cautious of an aggressive expansion” to win it back. Read more