Hong Kong Monetary Authority Releases Q2 2024 Credit Card Lending Survey Results

The
Hong
Kong
Monetary
Authority
(HKMA)
has
released
the
findings
of
its
credit
card
lending
survey
for
the
second
quarter
of
2024.
According
to
the
HKMA,
total
card
receivables
experienced
a
marginal
decline
of
0.2%,
reaching
HK$151.2
billion
by
the
end
of
June
2024.
This
follows
a
more
pronounced
decrease
of
5.3%
in
the
previous
quarter.

Delinquency
and
Charge-Off
Ratios

The
survey
also
revealed
that
the
combined
delinquent
and
rescheduled
ratio
saw
a
slight
uptick,
rising
to
0.39%
at
the
end
of
June
2024
from
0.37%
at
the
end
of
the
previous
quarter.
Additionally,
the
quarterly
charge-off
ratio
increased
marginally
to
0.58%,
up
from
0.55%
in
the
prior
quarter.

Market
Implications

The
minor
fluctuations
in
credit
card
receivables
and
delinquency
ratios
could
indicate
a
stabilizing
trend
in
the
market
following
the
significant
decrease
observed
earlier
in
the
year.
Financial
analysts
suggest
that
these
metrics
are
essential
for
understanding
consumer
behavior
and
financial
health
in
Hong
Kong.

For
more
details,
you
can
view
the
full
report
on
the

Hong
Kong
Monetary
Authority
website.

Image
source:
Shutterstock