As of end-June 2007, the credit card receivables (CCRs) of universal/commercial banks (U/KBs) and thrift banks (TBs), inclusive of credit card subsidiaries, reached P102.0 billion. This is higher by 5.8 percent than last quarter’s P96.4 billion and by 24.6 percent than year ago’s P81.9 billion. Similarly, the ratio of CCRs to total loan portfolio (TLP), net of interbank loans, went up to 5.4 percent from last quarter’s 5.0 percent and year ago’s 4.5 percent ratios.
U/KBs accounted for the biggest slice of the total CCRs at 79.6 percent. Credit card and TB subsidiaries of U/KBs distantly followed at 15.5 percent while the non-U/KB affiliated TBs held the remaining 4.9 percent.
Meantime, the ratio of past due CCRs to total CCRs eased to 13.8 percent from last quarter’s 14.2 percent and year ago’s 19.2 percent ratios. The improvement from last quarter took place as the 3.0 percent hike in past due CCRs to P14.1 billion was outweighed by the growth in total CCRs.
The P14.1 billion past due CCRs represented 9.3 percent (vs. 8.9 percent last quarter and 8.5 percent a year ago) of the total non-performing loans (NPL) of both U/KBs and TBs. On the other hand, the ratio of past due CCRs to TLP settled at 0.8 percent (vs. 0.7 percent last quarter and 0.9 percent a year ago).