In August 2024, Sri Lanka's credit card debt rose by Rs.942 million to Rs.150.6 billion.

In August 2024, Sri Lanka's credit card debt rose by Rs.942 million to Rs.150.6 billion, amid an overall increase in private credit from banks totaling Rs.135.2 billion. While this credit card growth is modest, it may indicate the start of a new credit cycle. Factors like reduced interest rates, promotions, and the festive season could further boost consumer spending and credit card debt in the coming months.

October 07, 2024
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