RTTNews - Hong Kong's total credit card receivables decreased 0.3% in the second quarter, compared with an 8.1% fall in the previous quarter, a report by the Hong Kong Monitory Authority showed on Friday. However, total number of credit card accounts climbed 2.2%.
In the second quarter, the rollover amount, which is the amount of customer borrowing using credit cards, declined by HK$ 0.7 billion to HK$ 22.2 billion.
The charge-off amount rose to HK$ 815 million in the second quarter or 1.2% of average receivables from HK$ 727 million in the previous quarter. On an annual basis, the charge-off ratio increased to 4.61% from 3.92% in the first quarter.
Similarly, the delinquent amount increased to HK$ 357 million in the second quarter, compared with HK$ 350 million in the previous quarter. At the same time, the delinquency ratio rose to 0.50% from 0.49% in the first quarter.
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