Credit card users owe HK$120b

Local | 16 May 2018 6:58 pm

Credit hard holders owed their card issuers HK$120.7 billion in the quarter ended March 31, down by 8.1 percent from the previous three-month period, the Hong Kong Monetary Authority reported today.

In its credit card lending survey, the HKMA said total card receivables dropped after an increase of 10.8 percent in the previous quarter, which was driven by spending in the festive period and the payment of salaries tax using credit cards.

The combined delinquent and rescheduled ratio edged up to 0.33 percent at end-March 2018 from 0.31 percent at the end of the previous quarter.

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