Credit card transactions rose 4 percent year-on-year in the first quarter of 2010, helping boost consumer spending during the period, Bangko Sentral said Friday.
Data showed that credit card receivables of universal, commercial and thrift banks amounted to P130.7 billion in the January-March period, up from P125.7 billion recorded during the same period last year.
The figures included transactions of the banks’ credit card subsidiaries.
The use of credit card went up year-on-year but it was down 4.4 percent from P136.6 billion in the fourth quarter of 2010, because of seasonal factors.
Spending usually peaks during the fourth quarter of the year because of the long holidays.
Credit card receivables represented more than a quarter of total consumer loans in the first quarter.
Bangko Sentral also noted that the ratio of total credit card receivables to total loan portfolio, excluding interbank loans, rose to 5.1 percent in the first quarter of 2010 from 5.0 percent in the fourth quarter and 4.9 percent in the first quarter of 2009.
Universal and commercial banks accounted for 83.9 percent, or P109.6 billion, of the total credit card receivables, while credit card subsidiaries of these banks held 15.7 percent, or P20.5 billion. Independent thrift banks accounted for 0.4 percent, or P500 million. –Roderick T. dela Cruz, Manila Standard Today
20 February –
WORLD DAY OF SOCIAL JUSTICE
“Every day, give everyone their due.
Every day should be Social Justice Day!
The only way”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
February Observances
1-7 Feb: World Interfaith Harmony Week
01 Feb: World Wetlands Day
02 Feb: International Day of Human Fraternity
04 Feb: International Day of Zero Tolerance
for Female Genital Mutilation
11 Feb: International Day of Women and Girls
in Science
20 Feb: World Day of Social Justice
Monthly Observances:
National Health Insurance Month
Weekly Observances:
Week 1: National Awareness Week
for the Prevention of Child Sexual Abuse
and Exploitation
Week 3: Public Administration Week
Daily Observances:
Feb 1 Constitution Day
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
