Credit Card Lending Survey Results for First Quarter 2019
*********************************************************
The Hong Kong Monetary Authority published today (May 15) the credit card lending survey results for the first quarter of 2019.
Total card receivables decreased by 6.2% in the first quarter to HK$129.5 billion at end-March 2019, after an increase of 9.7% in the previous quarter that was mainly driven by festive spending and salaries tax payment.
The combined delinquent and rescheduled ratio edged up marginally to 0.32% at end-March 2019 from 0.31% at the previous quarter-end.
The charge-off amount increased by HK$7 million during the quarter to HK$510 million, while the quarterly charge-off ratio remained stable at 0.38%.
Ends/Wednesday, May 15, 2019
Issued at HKT 16:31
Issued at HKT 16:31
NNNN