Access Request:

Growth in private sector credit extension accelerated to 4.5% y/y in May ’22 from 3.8% in Apr ’22, the fastest rate since the pandemic began. Total claims on resident sector (businesses and individuals) increased to N$109.1 billion. Private sector credit increased just 0.3% m/m. However, if non-residents are included, total private sector credit increased 11.0% y/y (or N$11.6 billion) thanks to large cross-border interbank transactions – but was effectively flat m/m with an increase of just 0.3%.