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Credit card lending survey results for fourth quarter 2016
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The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority published today (February 15) the credit card lending survey results for the fourth quarter of 2016.

     Total card receivables rose by 8.5% in the fourth quarter to HK$128.2 billion at end-December 2016. The substantial increase was mainly driven by festive spending and the payment of salaries tax using credit cards.

     The combined delinquent and rescheduled ratio edged down to 0.33% at end-December 2016 from 0.34% at the previous quarter-end.

     The charge-off amount decreased by HK$50 million during the quarter to HK$582 million. Correspondingly, the quarterly charge-off ratio decreased to 0.47% from 0.54% in the previous quarter.
 
Ends/Wednesday, February 15, 2017
Issued at HKT 16:30
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