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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
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
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September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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