1.36 million credit cards in use in first half-year

The total number of personal credit cards issued by banks in Macau stood at 1.36 million at the end of June 2019, an increase of 2% over the previous quarter or 9.6% from a year ago. 

According to statistics issued by the Monetary Authority of Macao, the number of pataca (957,100), Hong Kong dollar (95,200) and renminbi (310,900) cards advanced year-on- year by 8.9%, 5.5% and 13.2% respectively.  

At end-June 2019, the credit limit for credit cards granted by banks reached MOP38.1 billion, up 2.3% from end-March 2019 or 26.3% from end- June 2018.

Credit card receivables amounted to MOP2.8 billion, of which the rollover amount totaled MOP849.9 million, representing 30.8% of credit card receivables. 

The delinquency ratio, which is the ratio of the amount overdue for over three months to total credit card receivables, dropped by 0.04% to 1.61% when compared with the previous reporting period.

For the second quarter of 2019, the credit card turnover totaled MOP5.8 billion, equivalent to a rise of 2.5% quarter-to-quarter or 6.4% year-on- year.

The cash advance turnover was MOP219.9 million, accounting for 3.8% of total credit card turnover.  

Credit card repayments, which include payments for interest and fees, dropped 5.9% compared to the previous quarter but rose 5.7% compared to the same period last year to MOP5.7 billion. LV