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Quarterly Report on Exposures to Credit Card Receivables of Commercial Banks (KBs) and Thrift Banks (TBs) as of September 30, 2001

01.23.2002

As of September 30, 2001, total exposure to credit card receivables (CCRs) of the 18 commercial banks (KBs) and 10 thrift banks (TBs) (bank proper and their credit card subsidiaries) that are active in the business expanded to P43.5 billion, (bank proper-P24.3 billion and credit card subsidiaries – P19.2 billion), 14.5 percent higher than the previous quarter and up by 33.8 percent a year ago.

Total exposure of commercial banks (bank proper and subsidiaries) increased to P42.4 billion for an equivalent share of 97.3 percent of total CCRs.

As in the past, foreign commercial banks cornered bulk or 39.7 percent of total CCR exposure.

Past due portion of CCRs (bank proper) this quarter grew to P5.4 billion from P5.2 billion last quarter and P4.6 billion a year ago with ratio levels of KBs and TBs at 21.9 percent and 22.3 percent from 21.4 percent and 28.0 percent a quarter ago, respectively. Year ago past due ratios stood at 22.6 percent for KBs and 45.6 percent for TBs. Credit card subsidiaries of KBs reported past due CCRs of P4.3 billion which represented 22.4 percent of their total CCR exposures.

For the combined bank proper and subsidiaries, past due portion of total CCRs rose to P9.6 billion or 22.1 percent from P7.2 billion or 18.9 percent a quarter ago and to P7.0 billion or 21.4 percent a year ago.

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