Credit Card Lending Survey Results for Second Quarter 2010

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16 Aug 2010

Credit Card Lending Survey Results for Second Quarter 2010

The Hong Kong Monetary Authority announced the results of the survey on credit card lending for the second quarter of 2010.

Total card receivables stood at HK$74.5 billion at the end of June 2010, representing a quarterly increase of 4.1% (or HK$2.9 billion). The total number of credit card accounts increased by 2.9% to 13.1 million.

The rollover amount, which reflects the amount of borrowing by customers using their credit cards, fell by 3.5% to HK$19.6 billion at the end of June 2010.

The charge-off amount declined to HK$422 million, or around 0.6% of average receivables, in the second quarter of 2010 from HK$439 million in the previous quarter. The quarterly annualised1 charge-off ratio also declined to 2.31% from 2.39% in the previous quarter. The transfer of rescheduled receivables outside the surveyed institutions' credit card portfolios decreased to HK$165 million from HK$209 million in the previous quarter.

The delinquent amount decreased to HK$189 million at end-June 2010 compared with HK$232 million at end-March 2010. The delinquency ratio correspondingly dropped to 0.25% from 0.32% at end-March 2010. The combined delinquent and rescheduled ratio (after taking into account the transfer of rescheduled receivables mentioned above) declined to 0.38% at end-June 2010 from 0.45% at end-March 2010.

Annex

For media enquiries, please contact:
Yokee Wong, Manager (Communications), at 2878 1213 or
Natalie Wu, Officer (Communications), at 2878 8246

Hong Kong Monetary Authority
16 August 2010

 

1 This assumes the quarterly rate of charge-off is maintained for the next three quarters.

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Last revision date : 16 August 2010