SHANGHAI, Sept 8 China's overdue credit card
payments rose 4.91 percent in the second quarter from the
quarter before, the country's central bank said on Thursday in a
report posted on its official website.
As the speed of growth in the country slows, borrowers have
been finding it harder to repay debt, leading to an increase in
Credit card payments overdue by more than six months hit
48.1 billion yuan ($7.22 billion) at the end of the second
quarter, the report said. Such overdue payments made up 1.43
percent of the total amount outstanding on credit cards.
Non-performing loans of China's commercial banking sector
rose to 1.81 percent of total lending at the end of the second
quarter, the highest since the global financial crisis in 2009.
Bill business fell by 21.39 percent on-year to 46.8 trillion
yuan in the second quarter, following the tightening of
oversight after the country's banks suffered multi-million
Meanwhile, the number of bank cards in use at the end of the
second quarter rose 15.83 percent on year to 5.83 billion cards,
according to the data.
($1 = 6.6635 Chinese yuan)
(Reporting by Beijing Monitoring Desk and Engen Tham in
Shanghai; Editing by Subhranshu Sahu)