As of end-March 2010, the credit card receivables (CCRs) of universal/commercial banks (U/KBs) and thrift banks (TBs), inclusive of credit card subsidiaries amounted to P130.7 billion, down by 4.4 percent from last quarter’s P136.6 billion but up by 4.0 percent from year ago’s P125.7 billion. Meanwhile, the ratio of total CCRs to total loan portfolio (TLP), exclusive of interbank loans went up to 5.1 percent from last quarter’s 5.0 percent and year ago’s 4.9 percent ratio.
By main group, U/KBs accounted for 83.9 percent or P109.6 billion of total CCRs. Credit card subsidiaries of U/KBs held 15.7 percent or P20.5 billion. TBs that are not affiliated with U/KBs accounted for only 0.4 percent or P0.5 billion.
On the quality of CCRs, the ratio of non-performing CCRs to total CCRs, inclusive of credit card subsidiaries stood at 14.3 percent, higher than last quarter’s 12.7 percent and year ago’s 12.2 percent ratio. The increase in the ratio from last quarter occurred as the 8.5 percent hike in non-performing CCRs to P18.7 billion accompanied the reduction in total CCRs.
Meantime, the non-performing CCRs to total non-performing loans (NPLs) ratio stood at 13.7 percent (up from 13.2 percent last quarter and 11.2 percent a year ago), whereas non-performing CCRs to TLP ratio settled at 0.7 percent (up from last quarter and year ago’s 0.6 percent ratio).
The quality of CCRs of TBs that are not affiliated with U/KBs was better than that of U/KBs (inclusive of subsidiaries). TBs not affiliated with U/KBs registered the following ratios: non-performing CCRs to total CCRs (12.8 percent), non-performing CCRs to total NPLs (0.4 percent) and non-performing CCRs to TLP (0.1 percent). These ratios were lower than the ratios posted by U/KBs with subsidiaries at 14.4 percent, 15.5 percent and 0.8 percent, respectively.