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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) published today the credit card lending survey results for the second quarter of 2012.
Total card receivables increased by 3.2% to HK$98.7 billion in the second quarter, after decreasing by 4.8% in the previous quarter. The total number of credit card accounts increased by 2.3% to 15.8 million.
The rollover amount, which reflects the amount of borrowing by customers using their credit cards, fell by 0.5% during the quarter.
The charge-off amount (and ratio) rose from HK$390 million (0.40%) in the first quarter to HK$441 million (0.45%) in the second quarter.
The amount of rescheduled receivables transferred outside the surveyed institutions' credit card portfolios increased to HK$92 million from HK$68 million in the previous quarter.
The delinquent amount fell slightly to HK$203 million at end-June 2012 from HK$204 million at end-March 2012. The delinquency ratio remained unchanged at 0.21% at end-June 2011. The combined delinquent and rescheduled ratio (after taking into account the transfer of rescheduled receivables mentioned above) edged down to 0.27%.
Ends/Wednesday, August 15, 2012
Issued at HKT 16:30
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