As of end-March 2009, the credit card receivables (CCRs) of universal/commercial banks (U/KBs) and thrift banks (TBs), inclusive of credit card subsidiaries amounted to P125.7 billion, down by 3.9 percent from last quarter’s P130.7 billion but up by 8.8 percent from year ago’s P115.5 billion. Meantime, the total CCRs to total loan portfolio (TLP) ratio dropped to 4.9 percent from last quarter’s 5.0 percent and year ago’s 5.4 percent ratio.
U/KBs accounted for 81.1 percent or P101.9 billion of the P125.7 billion total CCRs. Credit card subsidiaries of U/KBs held 15.0 percent or P18.8 billion while TBs accounted for 3.9 percent or P4.9 billion.
The non-performing CCRs of U/KBs and TBs, inclusive of credit card subsidiaries stood at P15.4 billion, up by 0.4 percent from last quarter’s P15.3 billion and by 30.0 percent from year ago’s P11.8 billion. Meantime, the ratio of non-performing CCRs to total CCRs settled at 12.2 percent, up from last quarter’s 11.7 percent and year ago’s 10.2 percent. The increase in the ratio from last quarter occurred as the 0.4 percent growth in non-performing CCRs came with the reduction in total CCRs.
Meantime, the non-performing CCRs to total non-performing loans (NPLs) ratio stood at 11.2 percent (favorably down from 11.6 percent last quarter but up from 8.9 percent a year ago), whereas non-performing CCRs to TLP ratio was the same as last quarter and year ago’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 (5.5 percent), non-performing CCRs to total NPLs (1.6 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 12.5 percent, 12.5 percent and 0.6 percent, respectively.