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Credit Card Receivables Rise to P86.5 Billion in Q3

12.18.2006

Credit card receivables (CCRs) of universal/commercial banks (U/KBs) and thrift banks (TBs) inclusive of credit card subsidiaries settled at P86.5 billion as of end-September 2006.  The sum is 5.5 percent higher than last quarter’s P81.9 billion, and represents a 13.6 percent expansion from year ago’s P76.1 billion. The proportion of CCRs to the combined U/KBs and TBs total loan portfolio (TLP), exclusive of interbank loans, perched at 4.7 percent, higher than last quarter’s 4.5 percent and year ago’s 4.4 percent ratio.

These receivables were generally current in status, except for some P16.7 billion or 19.3 percent which were past due.  The CCR past due ratio inched up from the previous quarter’s 19.2 percent, but closed better than year ago’s 19.4 percent ratio.  The marginal increase in ratio from last quarter was driven by the relatively faster incidence of CCRs turning past due at 6.1 percent compared with the growth rate in total CCRs.

The P16.7 billion past due CCRs represented 9.0 percent of the total non-performing loans (NPL) of both U/KBs/TBs (vs. 8.5 percent last quarter and 7.2 percent a year ago).  On the other hand, the ratio of past due CCRs to TLP remained less than a percent in the three comparative periods.

U/KBs still had the biggest exposures at 72.0 percent share of total CCRs. Credit card subsidiaries of U/KBs followed with a 24.4 percent share of total CCRs, and the non-U/KB affiliated TBs held the balance of 3.6 percent.

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