I also saw somewhere, think it was on one of my facebook news feeds, that there has been a substantial increase in % of unsecured credit, I doubt that will create comfort in the financial sector overall..
extra from news article "The rand value of unsecured credit granted increased was up more than 57% in the last quarter of 2011 compared with the same period the previous year, the latest official data shows." Just shows how bad it is.
Still, my head tells me that the risk on unsecured credit differs like the moon from the sun. Late market players have the most to lose as they probably will be content with the least financially secure clients that have been shown the door at other institutions.