Local credit card turnover surges in 4Q

2014-2-13

From：Macau Daily Times

Figures from the Monetary Authority of Macau show that the credit card turnover in the fourth quarter of last year has risen 16.9 percent quarter-on-quarter to MOP4 billion. This is accompanied by a 4.5 percent increase in the cash advance turnover, to MOP180.4 million. The total number of personal credit cards in circulation has also recorded a 4 percent growth to 754,434 at the end of December 2013. This is similar to the 5.1 percent increase in the credit card credit limit granted by Macau banks, reaching 14 billion in 4Q13. Among the three most popular currencies, the number of Renminbi cards has increased the most, recording a growth of 6.1 percent. The numbers of Pataca cards and Hong Kong Dollar cards also increased 3.6 percent and 2.4 percent respectively. The rise in the number of Renminbi credit card is even more noticeable when compared to the figure from a year ago, which indicates a 30.7 percent year-on-year upsurge in RMB cards. The growth is mainly accredited to the increase in MOP/RMB dual-currency cards, which have recorded a 31.2 percent rise.

Copyright@Macau Daily Times