Jamaica’s lending institutions are forecasting an increase in the demand for loans during the March and June quarters of 2021, evidenced by the results of the latest Quarterly Credit Conditions Survey (QCCS) undertaken by the Bank of Jamaica (BOJ).
The results of the December 2020 survey, which was conducted between January 14 and February 11, 2021, indicated that lenders are expecting an uptick in loan demand during these two quarters. The QCCS is conducted online on a quarterly basis among commercial banks, building societies, merchant banks, credit unions and development banks.
It is designed to elicit qualitative information on changes in the demand and supply of credit to various types of businesses as well as individuals. The December QCCS showed growth in credit demand, as measured by the Credit Demand Index (CDI), where a measurement of less than 100 indicates a decline in the particular variable, whereas an index greater than 100 indicates an increase in the variable in question.