As of end-December 2007, the credit card receivables (CCRs) of universal/commercial banks (U/KBs) and thrift banks (TBs), inclusive of credit card subsidiaries, amounted to P116.1 billion. This is higher by 9.5 percent from last quarter and by 16.5 percent from last year. Meanwhile, the total CCRs to TLP ratio slightly went down to 5.4 percent from last quarter’s 5.5 percent but stood higher than last year’s 5.2 percent ratio.
U/KBs accounted for the bulk of the total CCRs at 80.1 percent. Credit card and TB subsidiaries of U/KBs distantly followed at 15.2 percent while the non-U/KB affiliated TBs accounted for the remaining 4.7 percent.
Past due CCRs to total CCRs ratio eased to 14.2 percent from last quarter’s 14.3 percent. The improvement in the ratio transpired as the 8.7 percent hike in past due CCRs to P16.5 billion was outpaced by the expansion in total CCRs. This quarter’s ratio is also better than the 16.4 percent ratio reported last year.
The P16.5 billion past due CCRs accounted for 12.5 percent (up from 10.4 percent last quarter and 9.9 percent last year) of the total non-performing loans (NPL) of both U/KBs and TBs. Meantime, the ratio of past due CCRs to TLP was maintained at 0.8 percent from last quarter but slightly eased from last year’s 0.9 percent ratio.