MANILA, Philippines – Banks’ credit card receivables as of end-June rose by 3.1 percent, indicating that the global financial turmoil continues to affect the disposable income of consumers.
The Bangko Sentral ng Pilipinas (BSP) reported that the credit card receivables of universal, commercial and thrift banks rose to P129.6 billion in the second quarter of the year, from P125.7 billion recorded in the first three months of 2009.
The P129.6 billion level is higher by 5.7 percent from the year ago level of P122.6 billion, the BSP said.
The ratio of the total credit card receivables to the total loan portfolio climbed to five percent from the previous quarter’s 4.9 percent.
However, the BSP said this was lower than the 5.3 percent ratio recorded a year ago because of faster year-on-year growth in banks total loan portfolio.
By group, universal and commercial banks accounted for 81 percent or P104.9 billion of the P129.6-billion total credit card receivables.
Credit card subsidiaries of banks held 15.1 percent or P19.6 billion while thrift banks accounted for the remaining 3.9 percent or P5.1 billion.
On the quality of credit card receivables, the non-performing receivables stood at P16.5 billion, up by 7.1 percent from last quarter’s P15.4 billion and by 16.1 percent from year ago’s P14.2 billion.
The ratio of non-performing credit card receivables to total receivables settled at 12.7 percent, up from last quarter’s 12.2 percent and year ago’s 11.6 percent.
BSP said the quarter-on-quarter increase in the ratio came about as the 7.1-percent hike in non-performing credit card receivables outweighed the expansion in total receivables.
Meantime, the non-performing credit card receivables to total non-performing loans ratio stood at 12.1 percent (up from 11.2 percent last quarter and 10.6 percent a year ago).
The quality of credit card receivables of total banks that are not affiliated with universal and commercial banks stood better than that of banks together with their subsidiaries. –Iris C. Gonzales (The Philippine Star)
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
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against serious violations of protocols of
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Accept the National Unity Government (NUG)
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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