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Credit Card Receivables Up By 6.2 Percent From Last Quarter

10.24.2008

As of end-June 2008, the credit card receivables (CCRs) of universal/commercial banks (U/KBs) and thrift banks (TBs), inclusive of credit card subsidiaries, reached P122.6 billion, up by 6.2 percent from the previous quarter. Meantime, the ratio of total CCRs to total loan portfolio (TLP), net of interbank loans went down to 5.3 percent from last quarter’s 5.4 percent ratio.

U/KBs accounted for 81.2 percent or P99.5 billion of the P122.6 billion total CCRs. Credit card subsidiaries of U/KBs held 14.7 percent or P18.0 billion while non-linked TBs represented the balance of 4.1 percent or P5.1 billion.

The ratio of non-performing CCRs to total CCRs went up to 11.6 percent from last quarter’s 10.2 percent ratio. The increase in the ratio occurred as the 20.5 percent hike in non-performing CCRs to P14.2 billion was faster than the growth in total CCRs. The report did not present comparative year-on-year figures due to the recent change in financial reporting. Prior to end-March 2008, computation of delinquency was Past Due plus Items in Litigation. Effective end-March 2008, computation of delinquency is Past Due and Already Non-Performing plus Items in Litigation based on the new Financial Reporting Package (FRP).

Meantime, non-performing CCRs to total non-performing loans (NPL) ratio stood at 10.6 percent (up from 8.8 percent last quarter) whereas non-performing CCRs to TLP ratio settled at 0.6 percent (same as last quarter).

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