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Credit card turnover hits MOP4.9 billion in Q2 2017

The number of personal credit cards in circulation in June increased 12.3 per cent year-on-year, totalling an average of two cards per person in the city

The total credit card turnover in Macau reached MOP4.9 billion in the second quarter of the year, an increase of 2.1 per cent quarter-to quarter, and 8.9 per cent year-on-year, according to the latest data released by the Monetary Authority of Macao (AMCM) yesterday.
As for local cash advance turnover, the values reached MOP225.2 million, corresponding to nearly 4.6 per cent of total credit card turnover.
Credit card repayments – which include payments for interest and fees – amounted to some MOP4.8 billion, down 6.6 per cent when compared to the first quarter, but up 8.1 per cent from the same period a year before.
The number of Reminbi (RMB) cards in the city in June rose 16.2 per cent yearly to 242,327 units. The number corresponds to nearly one-third of the cards designated in MOP, or 796,992, which marked an increase of 11.4 per cent year-on-year.
The number of Hong Kong denominated cards also rose, up 10.2 per cent year-on-year, amounting to 94,725.
As of end-June, the Authority noted that the number of personal credit cards in circulation had grown due to ‘the increasing dual-currency and triple-currency cards,’ amounting to 1,134,044, up 3.7 per cent from the previous quarter and 12.3 per cent from a year before.

Credit line
Banks had granted some MOP27.3 billion in credit card limits as at end-June, up 3.6 per cent since the end of March, and a 15.5 per cent increase from a year earlier.
Credit card receivables amounted to MOP2.5 billion, of which rollover reached MOP751.7 million, corresponding to nearly 30.5 per cent of credit card receivables.
The ratio of delinquent amounts overdue remained low, dropping to 1.37 per cent at the end of June, down from 1.46 per cent at the end of the previous quarter.

Across the Delta
According to the latest statistics released by the Hong Kong Monetary Authority on June 5, the number of credit card accounts in the Hong Kong SAR totalled approximately 16.57 billion at the end of the first quarter of this year.
Credit card receivables in the neighbouring SAR amounted to some HK$122.48 billion, of which the rollover totalled HK$22.28 billion.