Increase in demand for loans

[Lazie]

New data from the Bank of Jamaica (BoJ) show the demand for loans in the local financial sector continues to pick up.
Between July and September, the stock of personalloans expanded by $4.9 billion or 4.6%.
The rate of increase was similar to what was recorded during the previous three months.
The Central Bank says this was a continuation of the trend observed since the June 2010 quarter.
The expansion in the review quarter was reflected solely in local currency loans.
According to the Central Bank the overall expansion in personal loans reflected increased borrowing for motor cars, consolidation of debt, home purchases and improvement as well as education.
The stock of outstanding credit for motor car purchases grew by 5.4% or $541 million compared to a 1% decline in the September 2010 quarter.
However, the BoJ says new loans approved for the purchase of motor cars were 5.9% lower relative to the previous quarter.

[Lazie]

With interest rates at the lowest in history (according to financial analysts) I'm surprised more loans are not going towards starting new businesses. I guess people still fraid a di high interest regime.

[1of1]

you need to take a trip to Jamaica to get some perspective

[Muadib]

we need another OLINT and Cash Plus don't... ?

[Assasin]

this the fact Lazie. Interest rate low but some people nah tek no loan for reasons like Finsac and the fact that less jobs and people seeing what is happening in America and other places.

Yes more people refinancing but who to say these banks are not turning down a lot of people, just like in the US. If the economy continue to grow be it small then more people will do it and you have to remember that even though the government bought down interest rate the banks are slow to respond and people know that it might get lower so why not wait out the banks?

[Don1]

New data from the Bank of Jamaica (BoJ) show the demand for loans in the local financial sector continues to pick up.
Between July and September, the stock of personalloans expanded by $4.9 billion or 4.6%.
The rate of increase was similar to what was recorded during the previous three months.
The Central Bank says this was a continuation of the trend observed since the June 2010 quarter.
The expansion in the review quarter was reflected solely in local currency loans.
According to the Central Bank the overall expansion in personal loans reflected increased borrowing for motor cars, consolidation of debt, home purchases and improvement as well as education.
The stock of outstanding credit for motor car purchases grew by 5.4% or $541 million compared to a 1% decline in the September 2010 quarter.
However, the BoJ says new loans approved for the purchase of motor cars were 5.9% lower relative to the previous quarter.

Suh Man ave more Cyar!!

Progress!!!!!

[Don1]

With interest rates at the lowest in history (according to financial analysts) I'm surprised more loans are not going towards starting new businesses. I guess people still fraid a di high interest regime.

[1of1]

begone BOT

[1of1]

see a somewhat valid perpesctive

[Muadib]

time fi hard work.. di cayliss easy life when people like SkengD cock up dem foot and ah get 25% pon di back a poor people days dun..

[1of1]

ok poor people advocate

[Muadib]

yuh tink is Portia one luff poor people. ?

[1of1]

obviously not, Maudib for P.N.P. president

[Muadib]

oh.. suh yuh tink is PNP alone luff poor people ?

[1of1]

far from the truth, dem look like is volunteer work dem doing, i know both sides agenda, but what is your agenda, you are quite entrenched, you should run fi a seat an dun, any party would fit yuh still.