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FINANCIAL SERVICES | Staff Reporter, Hong Kong
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Credit card receivables up 0.2% in Q2

The combined delinquent and rescheduled ratio rose slightly to 0.47%.

Total card receivables edged up by 0.2% in the second quarter to $124.2b at end-June, reversing a 10% decline in Q1, according to the Hong Kong Monetary Authority’s credit card lending survey.

The combined delinquent and rescheduled ratio rose slightly to 0.47% in Q2, from 0.43% at the previous quarter-end, whilst the charge-off ratio increased to 0.71% from 0.42%, as the economic impact of the COVID-19 outbreak took hold.

This followed after a decline in Q1, no thanks to lower card usage after the passing of the festive and tax payment season. This also partly reflected a decline in consumer activities amidst the pandemic.

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