Ted Hisokawa
Aug 16, 2024 03:27
The Hong Kong Financial Authority experiences a 0.2% decline in complete card receivables in Q2 2024, with delinquent and rescheduled ratios barely growing.
The Hong Kong Financial Authority (HKMA) has launched the findings of its bank card lending survey for the second quarter of 2024. In accordance with the HKMA, complete card receivables skilled a marginal decline of 0.2%, reaching HK$151.2 billion by the top of June 2024. This follows a extra pronounced lower of 5.3% within the earlier quarter.
Delinquency and Cost-Off Ratios
The survey additionally revealed that the mixed delinquent and rescheduled ratio noticed a slight uptick, rising to 0.39% on the finish of June 2024 from 0.37% on the finish of the earlier quarter. Moreover, the quarterly charge-off ratio elevated marginally to 0.58%, up from 0.55% within the prior quarter.
Market Implications
The minor fluctuations in bank card receivables and delinquency ratios might point out a stabilizing development out there following the numerous lower noticed earlier within the 12 months. Monetary analysts recommend that these metrics are important for understanding shopper habits and monetary well being in Hong Kong.
For extra particulars, you possibly can view the complete report on the Hong Kong Financial Authority web site.
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