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Source: Xinhua |
August 18, 2010, Wednesday
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Print Edition
Print Edition
CHINESE credit card holder delinquency rates dropped in the second quarter of the year despite a rise in credit card issuance, the People's Bank of China said yesterday.
Credit card delinquencies with late payment of over six months totaled 7.3 billion yuan (US$1.07 billion) in the second quarter, down 17.1 percent from the first quarter, the PBOC said in a statement on its website.
The credit card delinquency ratio was 2.5 percent in the second quarter, down 1 percentage point from the first quarter, according to the statement.
Credit card loans at the end of the second quarter totaled 287.76 billion yuan, up 53.1 percent from the same time the previous year and up 15.8 percent quarterly.
Credit card delinquencies with late payment of over six months totaled 7.3 billion yuan (US$1.07 billion) in the second quarter, down 17.1 percent from the first quarter, the PBOC said in a statement on its website.
The credit card delinquency ratio was 2.5 percent in the second quarter, down 1 percentage point from the first quarter, according to the statement.
Credit card loans at the end of the second quarter totaled 287.76 billion yuan, up 53.1 percent from the same time the previous year and up 15.8 percent quarterly.
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