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Total credit-card receivables rose 4.1%, or by $2.9 billion, in the year's second quarter to $74.5 billion, the Monetary Authority said today. The total number of credit-card accounts grew 2.9% to 13.1 million.
The rollover amount, which reflects the amount of borrowing by customers using their credit cards, fell 3.5% to $19.6 billion at the end of June.
The charge-off amount fell to $422 million, or about 0.6% of average receivables, in the second quarter from $439 million in the previous quarter.
The charge-off ratio also fell, to 2.31% from 2.39%. The transfer of rescheduled receivables outside the surveyed institutions' credit-card portfolios dropped to $165 million from $209 million.
The delinquent amount decreased to $189 million and the delinquency ratio correspondingly dropped to 0.25%. The combined delinquent and rescheduled ratio dropped to 0.38% from 0.45%.
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