129.6 Billion is Today's Credit Card Receivables!

The Bangko Sentral ng Pilipinas (BSP) reported that the credit card receivables rose to P129.6 billion in the second quarter of the year, from P125.7 billion recorded in the first three months of 2009. 81 percent or P104.9 billion comes universal and commercial banks.

Credit card subsidiaries of banks held 15.1 percent or P19.6 billion while thrift banks accounted for the remaining 3.9 percent or P5.1 billion.

On the quality of credit card receivables, the non-performing receivables stood at P16.5 billion, up by 7.1 percent from last quarter’s P15.4 billion and by 16.1 percent from year ago’s P14.2 billion.

Meantime, the non-performing credit card receivables to total non-performing loans ratio stood at 12.1 percent (up from 11.2 percent last quarter and 10.6 percent a year ago). The quality of credit card receivables of total banks that are not affiliated with universal and commercial banks stood better than that of banks together with their subsidiaries.