The private credit bureau coverage in South Asia has shown significant growth over the past decade. It stood at 7.7% of the adult population in 2013 and increased to 25.14% in 2023. The year-on-year variation shows a consistent upward trend, although the growth rate has slowed down in the last few years. Specifically, coverage saw substantial increases in 2014 (46.75%) and 2018 (31.38%), but more moderate increases in the recent years, with 4.89% in 2023.
Looking forward, the forecasted data suggests a continuous but decelerating growth pattern. Expected coverage is 26.29% in 2024 and is projected to reach 30.66% by 2028. The compound annual growth rate (CAGR) for the forecasted period is estimated at 3.12%, indicating a more gradual increase compared to historical rates.
Future trends to watch for include technological advancements in credit scoring, increased digital financial services, and policy changes aimed at improving credit accessibility. Additionally, the expansion of banking services to underserved populations in rural areas could further influence coverage rates positively.
