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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority published today (August 14) the credit card lending survey results for the second quarter of 2015.
Total card receivables increased by 1.0% in the second quarter to HK$117.2 billion at end-June 2015, after decreasing by 6.5% in the previous quarter. The total number of credit card accounts edged up by 0.2% to around 17.2 million.
The rollover amount, which reflects the amount of borrowing by customers using their credit cards, increased by 3.6% during the quarter to HK$20.1 billion. The rollover ratio also increased to 17.2% from 16.7% a quarter ago.
The charge-off amount increased to HK$611 million during the quarter from HK$539 million in the previous quarter. Correspondingly, the quarterly charge-off ratio rose to 0.52% from 0.45% in the previous quarter.
The amount of rescheduled receivables transferred outside the surveyed institutions' credit card portfolios increased to HK$83 million from HK$81 million in the previous quarter.
The delinquent amount decreased to HK$272 million at end-June 2015 from HK$297 million at end-March 2015. The delinquency ratio also reduced to 0.23% from 0.26% in the same period. The combined delinquent and rescheduled ratio (after taking into account the transfer of rescheduled receivables mentioned above) slightly reduced to 0.30% from 0.32% in the previous quarter.
Ends/Friday, August 14, 2015
Issued at HKT 17:10
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