Banks’ credit card receivables at P116 billion as of end-2007

CREDIT CARD receivables of universal, commercial and thrift banks totalled P116.1 billion as of end-December last year, 9.5% higher from the previous quarter and up 16.5% year on year, central bank data show.

The ratio of credit card receivables to the total loan portfolio, meanwhile, went down by 5.4% from the previous quarter’s 5.5%, but was higher than 5.2% a year ago.

The Bangko Sentral ng Pilipinas (BSP) data, released on Friday showed that universal and commercial banks accounted for the bulk of total credit card receivables, at 80.1%.

The thrift banks’ share stood at 15.2%, while that of thrift banks which are not affiliates of universal or commercial banks accounted for 4.7%.

The past due to total credit card receivables ratio eased to 14.2% from the previous quarter’s 14.3%.