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Credit card lending survey results for first quarter 2016

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

     The Hong Kong Monetary Authority published today (May 13) the credit card lending survey results for the first quarter of 2016.

     Total card receivables decreased by 7.1% in the first quarter to HK$116.7 billion at end-March 2016, after increasing by 7.2% in the previous quarter mainly driven by festive spending and the payment of salaries tax using credit cards.

     The combined delinquent and rescheduled ratio rose to 0.35% at end-March 2016 from 0.32% at the previous quarter-end.

     The charge-off amount increased slightly by HK$14 million during the quarter to HK$579 million. Correspondingly, the quarterly charge-off ratio edged up to 0.48% from 0.47% in the previous quarter.

Ends/Friday, May 13, 2016
Issued at HKT 16:38


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