Credit card receivables up by 11.0% this year--BSP

Monday 16th of July 2012

MANILA, July 16 (PIA) -- The Bangko Sentral ng Pilipinas said as of end-March 2012, total credit card receivables (CCRs) of universal and commercial banks and thrift banks stood at P131.9 billion, up by 11.0 percent, or P13.1 billion from last year's P118.8 billion.

In a statement, BSP said overall CCRs' total including those of universal and commercial bank subsidiaries amounted to P159.1 billion, higher by 12.7 percent from year ago’s P141.2 billion, of which 82.6 percent or P131.4 billion came from universal and commercial banks, 17.3 percent, P27.5 billion, from their subsidiaries and the remaining balance of 0.1 percent or P0.2 billion from thrift banks not affiliated with universal and commercial banks. All subgroups posted year-on-year expansion in their total CCRs.

Meanwhile, the ratio of CCRs to total loan portfolio (TLP) ratio slightly declined to 4.6 percent from year ago’s 4.7 percent due to the faster 17.7 percent growth in TLP, BSP said.

The ratio of nonperforming CCRs to total CCRs increased to 11.2 percent from 10.9 percent last quarter as nonperforming CCRs grew by 2.8 percent, or P0.5 billion. Nevertheless, this quarter’s ratio was still better than the 13.2 percent delinquency ratio posted a year ago, it said.

On the other hand, nonperforming CCRs eased to 13.0 percent of total NPLs from 13.2 percent in the previous quarter and 13.8 percent a year ago. Finally, the ratio of nonperforming CCRs to TLP remained unchanged from previous quarter’s 0.5 percent, though better than the 0.6 percent ratio from year ago, the BSP added. (BSP/RJB/JCP/PIA NCR)