*********************************************************
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) published today (November 15) the credit card lending survey results for the third quarter of 2012.
Total card receivables rose by 2.1% to HK$100.8 billion in the third quarter, after increasing by 3.2% in the previous quarter. The total number of credit card accounts increased by 2.2% to 16.1 million.
The rollover amount, which reflects the amount of borrowing by customers using their credit cards, fell by 1.0% during the quarter.
The charge-off amount (and ratio) fell from HK$441 million (0.45%) in the second quarter to HK$424 million (0.43%) in the third quarter.
The amount of rescheduled receivables transferred outside the surveyed institutions' credit card portfolios increased to HK$125 million from HK$92 million in the previous quarter.
The delinquent amount rose to HK$212 million at end-September 2012 from HK$203 million at end-June 2012. The delinquency ratio remained unchanged at 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 remained unchanged at 0.27%.
Ends/Thursday, November 15, 2012
Issued at HKT 16:59
NNNN
