HK credit card receivables rise to HK$137.7b

Business | 21 Feb 2020 6:19 pm

Credit card receivables increased by 4 percent in the fourth quarter to HK$137.7 billion at end-December 2019, after edging up by 0.2 percent in the third quarter, the Hong Kong Monetary Authority said.

The increase was mainly driven by festive spending and salaries tax payment.

The combined delinquent and rescheduled ratio stood at 0.33 percent at end-December 2019, slightly changed from the previous quarter-end.

The charge-off amount decreased by HK$26 million during the fourth quarter to HK$555 million. Correspondingly, the quarterly charge-off ratio dropped to 0.41 percent from 0.44 percent in the previous quarter.

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