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Industry NewsCanadian consumer credit deteriorating, bank warns

Canadian consumer credit deteriorating, bank warns


A new Royal Bank of Canada report says that consumer credit in Canada is in bad shape and getting worse.

The report, by RBC credit analyst Vivek Selot, found that the roll rate – the percentage of credit card users who extend early stage delinquencies into 60-90-day ones – reached the highest point since 2008 for one credit card program, and above the 10-year average for another program.

The trend is worrying because the health of consumer loans is a bellwether for the economy as a whole.

For more details, read the Bloomberg report here.

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