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Quarterly Report on Exposures to Credit Card Receivables of Commercial Banks (KBs) and Thrift Banks (TBs) as of June 30, 2002

10.15.2002

As of June 30, 2002, the total credit card receivables (CCRs) of 13 commercial banks, 11 thrift banks and 5 credit card subsidiaries actively engaged in the business reached P50.8 billion (bank proper-P34.1 billion and credit card subsidiaries-P16.7 billion), from P47.1 billion last quarter, 7.8 percent higher than the previous quarter and 33.5 percent a year ago.

Total exposure of commercial banks (bank proper and subsidiaries) grew by 7.3 percent to P48.7 billion from P45.4 billion a quarter ago. KBs accounted for almost all of the CCRs this quarter at 96.0 percent. As in the past, 49.1 percent of total CCRs was cornered by foreign commercial banks.  Exposure of subsidiaries of KBs contracted to P16.7 billion from P20.1 billion mainly as a result of the transfer of all credit card operations of BPI’s subsidiary to BPI bank proper.

Past due portion of CCRs grew to P11.3 billion from P10.4 billion last quarter and from P7.2 billion a year ago. The past due ratios of KBs and TBs were at 22.1 percent and 26.3 percent, respectively from year ago ratios of 18.6 percent for KBs and 28.0 for TBs. Credit card subsidiaries of KBs reported past due CCRs amounting to P4.0 billion equivalent to 24.2 percent of their total CCR exposures.  

Table 1: Bank Proper
Table 2: Bank Proper and Subsidiaries

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