Hong Kong’s total credit card receivables fell 11.7% at the end of the June, to HK$19.6 billion (US$2.5 billion or 1.9 billion euros) from HK$22.2 billion a year earlier, the Hong Kong Monetary Authority recently reported.
The amount of loans charged off during the second quarter ended June 30 declined by 48.2%, to HK$422 million from $815 million. The amount of loans delinquent by 60 days or more during the quarter declined by 47.6%, to HK$187 million from HK$357 million, the authority says.
The delinquency ratio (a ratio of past due card loans to total card loans) also dropped, to 0.25% during the quarter from 0.5% a year earlier, according to the authority. The combined delinquency and rescheduled ratio (after taking into account the transfer of rescheduled receivables) declined by 230 basis points, to 0.38% at the end of June from 0.61% a year earlier.
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