Over 34,000 credit cards in circulation in Macao

The total number of Macao's credit cards in circulation reached 348,928 in the second quarter of thisyear, up 2.6 percent from the previous quarter, according to the figures Tuesday released by the Monetary Authority (AMCM) of Macao Special Administration Region (SAR).

Among this total, the numbers of pataca cards, Hong Kong dollar cards and RMB cards stood at 274,922, 66,012 and 7,991 respectively in the period, with RMB cards enjoying the largest increase of 4.3 percent quarter-to-quarter, the figures showed.

Compared with the same period last year, pataca cards, HK dollar cards and RMB cards grew 10.3 percent, 3.6 percent and 14.5percent respectively in the second quarter of this year.

As at the end of June 2008, credit card credit limit granted bylocal banks amounted to 6.3 billion patacas (788 million U.S. dollars), an increase of 4.4 percent from end-March 2008, according to the AMCM.

The AMCM also said that credit card receivables reached 900 million patacas (113 million dollars) in the period while the rollover amount totaled 400 million patacas (50 million dollars), accounting for 44.1 percent of credit card receivables. The delinquency ratio was 0.29 percent.

The credit card turnover slid 0.9 percent in the second quarterto 1.4 billion patacas (175 million dollars), compared withthe previous quarter, according to the AMCM.