The credit card charge-off amount in Hong Kong continued to fall in the first quarter, down to 460 million Hong Kong dollars comparing with the previous quarter, Hong Kong Monetary Authority said Wednesday.

It said that the annualized charge-off ratio fell to 3.18 percent from 3.76 percent in the previous quarter, the lowest level since the third quarter of 1998.

The delinquent and rescheduled ratio rose to 0.57 percent at the end of March from 0.55 percent at the end of December due to the amount of rescheduled receivables falling to 68 million Hong Kong dollars from 70 million Hong Kong dollars in the previous quarter.

The rollover amount, which reflects the amount of borrowing by customers using their credit cards, increased to 24.8 billion Hong Kong dollars from 24.4 billion Hong Kong dollars as at the end of December.

Source: Xinhua