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Credit card lending survey results for second quarter 2013

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) published today (August 15) the credit card lending survey results for the second quarter of 2013.

     Total card receivables rose by 3.2% to HK$106.7 billion in the second quarter this year, after decreasing by 7.0% in the previous quarter. The total number of credit card accounts increased by 0.8% to 16.4 million.

     The rollover amount, which reflects the amount of borrowing by customers using their credit cards, rose by 1.3% during the quarter.

     The charge-off amount (and ratio) rose from HK$486 million (0.45%) in the first quarter to HK$540 million (0.51%) in the second quarter.

     The amount of rescheduled receivables transferred outside the surveyed institutions' credit card portfolios increased to HK$155 million from HK$138 million in the previous quarter.

     The delinquent amount rose to HK$265 million at end-June 2013 from HK$241 million at end-March 2013. Correspondingly, the delinquency ratio increased slightly to 0.25% from 0.23% in the same period. The combined delinquent and rescheduled ratio (after taking into account the transfer of rescheduled receivables mentioned above) edged up to 0.31% from 0.30% at end-March 2013.

Ends/Thursday, August 15, 2013
Issued at HKT 16:31


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