Credit Card Lending Survey Results for First Quarter 2020

The Hong Kong Monetary Authority published today the credit card lending survey results for the first quarter of 2020.

Total card receivables dropped by 10.0% in the first quarter to HK$123.9 billion at end-March 2020, in part due to lower card usage after the passing of the festive and tax payment season and in part reflecting a decline in consumer activities amid the Covid-19 outbreak.

The combined delinquent and rescheduled ratio rose to 0.43% at end-March 2020 from 0.33% at the previous quarter-end.  This level is still low by historical standards.

The charge-off ratio edged up to 0.42% from 0.41% in the previous quarter.

Annex

Hong Kong Monetary Authority
15 May 2020