As of end-December 2008, the credit card receivables (CCRs) of universal/commercial banks (U/KBs) and thrift banks (TBs), inclusive of credit card subsidiaries reached P130.7 billion. This is higher by 5.0 percent from last quarter’s P124.4 billion. Meanwhile, the ratio of total CCRs to total loan portfolio (TLP), exclusive of interbank loans (IBL) went down to 5.0 percent from last quarter’s 5.2 percent with the faster 8.9 growth in TLP, net of IBL.
U/KBs accounted for 80.7 percent or P105.5 billion of the P130.7 billion total CCRs. Credit card subsidiaries of U/KBs held 15.4 percent or P20.1 billion while non-linked TBs accounted for 3.9 percent or P5.1 billion.
The non-performing CCRs of U/KBs and TBs, inclusive of credit card subsidiaries grew by 5.1 percent to P15.3 billion from last quarter’s P14.6 billion. Nonetheless, the ratio of non-performing CCRs to total CCRs was unchanged at 11.7 percent. The ratio was maintained from last quarter as the growth in non-performing CCRs was almost matched by the hike in total CCRs. The report did not present comparative year-on-year figures due to the 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 had been Past Due and Already Non-Performing plus Items in Litigation based on the new Financial Reporting Package (FRP).
Meantime, the non-performing CCRs to total non-performing loans (NPLs) ratio stood at 11.6 percent (up from 10.7 percent last quarter) whereas non-performing CCRs to TLP ratio was the same as last quarter’s 0.6 percent ratio.
The quality of CCRs of TBs not affiliated with U/KBs stood better than that of U/KBs together with their subsidiaries. TBs not affiliated with U/KBs registered the following ratios: non-performing CCRs to total CCRs (5.4 percent), non-performing CCRs to total NPLs (1.8 percent) and non-performing CCRs to TLP (0.2 percent). These ratios were much lower than the ratios posted by U/KBs with subsidiaries at 12.0 percent, 12.8 percent and 0.6 percent, respectively.