Credit card receivables rise 3.2% to HK$98.7

This is after decreasing 4.8% in the previous quarter, the Monetary Authority said.

The total number of credit card accounts rose 2.3% to HK$15.8 million. The rollover amount, which reflects the amount of borrowing by customers using their credit cards, fell 0.5% during the quarter.

The charge-off amount rose from HK$390 million in the first quarter to HK$441 million in the second quarter.

The amount of rescheduled receivables transferred outside the surveyed institutions’ credit-card portfolios increased to HK$92 million from HK$68 million in the previous quarter.

The delinquent amount fell to HK$203 million at the end of June from HK$204 million at the end of March. The delinquency ratio remained unchanged at 0.21% at the end of June 2011.

The combined delinquent and rescheduled ratio, after taking into account the transfer of rescheduled receivables mentioned above, fell to 0.27%.