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
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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