The BSP said credit card users are still having trouble coping with their personal debts as past due receivables of the credit card industry also increased from 19.4 percent of total receivables to 20 percent during the review period.
The BSP said the receivables were "generally" current except for some P15.7 billion or 20 percent which were past due.
The BSP said this 20 percent represented 8.2 percent of the total non-performing loans of both universal/commercial banks and thrift banks, compared with 8.4 percent in the previous quarter and 6.2 percent over the same period last year.
The BSP reported that U/KBs still had the biggest exposure at 71.9 percent share of total credit card receviables and their subsidiary credit card companies accounted for 24.5 percent. Thrift banks had a 3.6 percent share.
These numbers mean that more credit card holders are having difficulties settling their credit card payments and these delinquent holders are habitual, with past due accounts lasting over six months and more.
Banks have been getting more and more aggressive in the consumer banking segment where risks are inherently bigger but spread over a wider base.
The BSP, however, was still in the process of tightening its regulations on credit card issuances, particularly on issuing credit card franchises and provisioning for past due receivables.
The BSP has already declared a moratorium on the creation of new credit card companies and required prior MB approval for tie-ups between banks and credit card franchising companies.