As of end-September 2007, the credit card receivables (CCRs) of universal/commercial banks (U/KBs) and thrift banks (TBs), inclusive of credit card subsidiaries, amounted to P106.0 billion. This is higher by 3.9 percent from last quarter and by 22.6 percent from year ago. Similarly, the total CCRs to TLP ratio rose to 5.5 percent from last quarter’s 5.4 percent and year ago’s 4.7 percent ratios.
U/KBs accounted for the biggest slice of the total CCRs at 79.9 percent. Credit card and TB subsidiaries of U/KBs distantly followed at 15.3 percent while the non-U/KB affiliated TBs held the remaining 4.8 percent.
Meanwhile, past due CCRs to total CCRs ratio went up to 14.3 percent from last quarter’s 13.8 percent. The increase in the ratio occurred as the 7.7 percent growth in past due CCRs to P15.2 billion outmatched the expansion in total CCRs. Nonetheless, this quarter’s ratio is still better than the 19.3 percent ratio posted a year ago.
The P15.2 billion past due CCRs accounted for 10.4 percent (up from 9.3 percent last quarter and 9.0 percent a year ago) of the total non-performing loans (NPL) of both U/KBs and TBs. Meantime, the ratio of past due CCRs to TLP, which remained the same as last quarter’s 0.8 percent, slightly eased from year ago’s 0.9 percent ratio.