There was a sharp increase in personal loans disbursed by the banking sector during the April to June quarter this year.
Data from the Central Bank show that loans grew by eight per cent during the review quarter, outpacing growth of five per cent and 7.4 per cent for the March 2007 and June 2006 quarters, respectively.
This category of loans continued to account for the largest proportion of the outstanding stock of private sector credit.
At the end of June, the stock of private sector credit within the commercial banking sector was $146 billion representing an expansion of five per cent relative to the end of March 2007.
Growth in private sector credit exceeded the increase of 2.9 per cent outlined in the monetary programme.
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