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Credit card lending survey results for third quarter 2014

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

     The Hong Kong Monetary Authority (HKMA) published today (November 14) the credit card lending survey results for the third quarter of 2014.

     Total card receivables increased by 2.5% to HK$115.1 billion in the third quarter this year, after increasing 2.1% in the previous quarter. The total number of credit card accounts edged up by 0.6% to around 17.0 million.

     The rollover amount, which reflects the amount of borrowing by customers using their credit cards, decreased by 3.8% during the quarter to HK$18.5 billion. The rollover ratio also declined to 16.1% from 17.1% a quarter ago.

     The charge-off amount slightly decreased to HK$563 million during the quarter from HK$569 million in the previous quarter. Correspondingly, the quarterly charge-off ratio edged down to 0.49% from 0.51% in the previous quarter.

     The amount of rescheduled receivables transferred outside the surveyed institutions' credit card portfolios rose to HK$98 million from HK$94 million in the previous quarter.

     The delinquent amount slightly increased to HK$252 million at end-September from HK$249 million at end-June. However, the delinquency ratio remained the same at 0.22% because of an increase in total card receivables. The combined delinquent and rescheduled ratio (after taking into account the transfer of rescheduled receivables mentioned above) remained the same at 0.29%.

Ends/Friday, November 14, 2014
Issued at HKT 17:01


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