According to statistics released today by the Monetary Authority of Macao, the total number of personal credit cards issued by banks in Macao continued to rise in the third quarter of 2020.  Both the credit card turnover and total repayments witnessed quarter-to-quarter growth.  

Cards issued

On the back of the increasing dual-currency and triple-currency cards, the total number of personal credit cards issued by banks in Macao stood at 1,480,649 at end-September 2020, equivalent to an increase of 1.4% over the previous quarter or 5.5% from a year ago.  The numbers of pataca (MOP) cards and renminbi (RMB) cards advanced year-on-year by 4.9% (to 1,030,187) and 9.4% (to 354,234) respectively.  On the other hand, the number of Hong Kong dollar (HKD) cards dropped year-on-year by 1.6% (to 96,228).

Credit limit granted and delinquency

At end-September 2020, credit card credit limit granted by banks in Macao reached MOP42.5 billion, up 2.6% from end-June 2020 or 10.0% from end-September 2019. Credit card receivables amounted to MOP2.3 billion, of which the rollover amount totalled MOP762.6 million, representing 32.6% of credit card receivables.  The delinquency ratio, i.e. the ratio of delinquent amount overdue for more than three months to credit card receivables, fell 0.2 percentage points to 2.2% when compared with end-June 2020.

Turnover and repayment

For the third quarter of 2020, the credit card turnover totalled MOP5.2 billion, representing a rise of 12.5% quarter-to-quarter or a drop of 13.4% year-on-year. The cash advance turnover was MOP144.7 million, occupying 2.8% of total credit card turnover.  Credit card repayments, in which payments for interest and fees are included, increased 13.4% from the previous quarter but declined 14.7% from the same period last year to MOP5.2 billion.