Credit Card Lending Survey Results for Fourth Quarter 2012

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15 Feb 2013

Credit Card Lending Survey Results for Fourth Quarter 2012

The Hong Kong Monetary Authority (HKMA) published today the credit card lending survey results for the fourth quarter of 2012.

Total card receivables rose by 10.4% to HK$111.3 billion in the fourth quarter, after increasing by 2.1% in the previous quarter.  The increase was mainly due to festive spending around the year end and the payment of salaries tax using credit cards.  The total number of credit card accounts increased by 0.9% to 16.3 million.

The rollover amount, which reflects the amount of borrowing by customers using their credit cards, fell by 0.8% during the quarter.

The charge-off amount rose from HK$456 million in the third quarter to HK$482 million in the fourth quarter.  However, due to the stronger increase in total card receivables, the quarterly charge-off ratio fell slightly from 0.46% to 0.45%. 

The amount of rescheduled receivables transferred outside the surveyed institutions’ credit card portfolios decreased to HK$116 million from HK$125 million in the previous quarter.  

The delinquent amount rose to HK$221 million at end-December 2012 from HK$212 million at end-September 2012.  The delinquency ratio decreased slightly to 0.20% from 0.21% at end-September 2012 as a result of increased total card receivables.  The combined delinquent and rescheduled ratio (after taking into account the transfer of rescheduled receivables mentioned above) also edged down to 0.26% from 0.27% at end-September 2012.

Annex

Hong Kong Monetary Authority
15 February 2013

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Last revision date : 15 February 2013