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Credit cards issued by local banks reach 1.28 million

Thu, 8th Nov 2018

The total number of personal credit cards issued by banks in Macao increased by 10.3 percent year-on-year at the end of September, Macao Monetary Authority (AACM) said in a statement on Wednesday.

The quasi-central bank said due to the increasing use of dual-currency and triple-currency cards, the total number of personal credit cards issued by banks in Macao stood at 1,282,732 at the end of September, equivalent to a quarter-on-quarter increase of 3.2 percent and a 10.3 year-on-year growth.

The numbers of pataca cards, Hong Kong dollar cards and yuan cards grew year-on-year by 9.7 percent to 903,711, 6.4 percent to 93,294 and 13.7 percent to 285,727, respectively.

At end of September 2018, credit card credit limit granted by local banks reached 32.5 billion patacas, up 7.6 percent from the end of June and up 17.0 percent from the end of September last year.

Credit card receivables amounted to 2.5 billion patacas, of which the rollover amount totaled 794.5 million patacas, representing 31.6 percent of credit card receivables.

The delinquency ratio, i.e. the ratio of delinquent amount overdue for more than three months to credit card receivables, remained unchanged at 1.49 percent when compared with the previous reporting period.

(Macau News)