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Credit card circulation up

December 18, 2014

The number of credit cards in circulation grew to 18.5 million by the end of the third quarter, up 0.3% on the previous quarter and 2.9% year-on-year, the Monetary Authority says.
 
There were 123.1 million credit card transactions, up 3% quarter-to-quarter and up 3.3% year-on-year, while the value of credit card transactions was $137.8 billion, up 5.7% on the previous quarter and up 11% year-on-year.
 
The number of debit card transactions in relation to retail sales and bill payments fell 2.9% to 28.5 million, while the total value decreased 1.4% to $57.5 billion in the third quarter.
 
Compared to the same period last year, the total number rose 3.7%, while the total value grew 7.1%.

 



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Asian Financial Forum