As of 31 December 2002, the combined credit card receivables (CCRs) of KBs and TBs remained on the upsurge as reported by the 17 KBs and 8 TBs (bank proper only). Total CCRs reached P37.3 billion. This was 6.8 percent higher than last quarter’s P35.0 billion and up by 41.2 percent from P26.4 billion a year ago. However, ratio of CCRs to TLP remained minimal at 2.1 percent (vs. 1.5 percent last year).
Inclusive of credit card subsidiaries of KBs and TBs, total CCRs stood at P54.2 billion. This was higher by P2.6 billion or 5.1 percent than the previous quarter and by P6.6 billion or 13.8 percent a year ago. Ratio of CCRs to TLP grew from 2.7 percent last quarter to 2.8 percent.
KBs remained the biggest players in the credit card business. KBs (bank proper) accounted for 64.9 percent of total CCRs, while credit card subsidiaries’ share was at 31.0 percent. TBs accounted for the remaining 4.1 percent. Per category, foreign KBs continued to account for the bulk of total CCRs at 46.8 percent.
Past due ratio of CCRs stood at 16.9 percent. There was an improvement of 4.9 percentage points from 21.8 percent a year ago but slightly higher than last quarter’s 16.8 percent. Past due CCR levels slightly rose to P9.2 billion from P8.7 billion last quarter but such increase was overshadowed by hefty gains in CCR levels to P37.3 billion from P35.0 billion last quarter.