Collateral-backed loans increase 30pc

The number of loans issued against property, furniture, cars, crops and home electronic items and livestock has jumped 29.6 percent in the 11 months to May, indicating an increased appetite for credit amid heightened economic pressures.

Movable Property Security Rights notices – notices lodged by banks and microfinance to secure the interest of collateral to issue loans — were recorded at 153,176 in the 11 months to May, surpassing 118,157 notices lodged in the 12 months to June 2022, data from Companies Registry shows.