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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 fourth quarter of 2015.
Total card receivables rose by HK$8.4 billion or 7.2% in the fourth quarter to HK$125.6 billion at end-December 2015. The substantial increase was mainly driven by festive spending and the payment of salaries tax using credit cards.
The delinquent amount increased by HK$31 million in the quarter to HK$314 million at end-December 2015. The delinquency ratio also increased to 0.25% from 0.24% at the previous quarter-end.
The charge-off amount increased slightly by HK$8 million to HK$ 565 million during the quarter. However, the quarterly charge-off ratio edged down to 0.47% from 0.48% in the previous quarter due to a sharper increase in total card receivables.
Ends/Monday, February 15, 2016
Issued at HKT 16:30
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