Credit card turnover drops 20pct y-o-y in Q2

The amount in credit card turnover reported in the second quarter of this year has fallen by 20.8 per cent year-on-year to some MOP4.6 billion (US$576.2 million), the Monetary Authority of Macau (AMCM) indicated today.

During the same period, cash advance turnover reached MOP140.8 million, or 3.1 of total credit card turnover, with credit card repayments falling by 20.1 from the same period last year to MOP4.6 billion.

However, by end-June 2020, credit card credit limit granted by banks in Macau reached MOP41.4 billion, up 8.7 per cent from end-June 2019.

The ratio of the delinquent amount overdue for more than three months to credit card receivables remained almost unchanged at 2.4 per cent