HK tourists spend more in markets hit by crisis
Article Abstract:
Visa International reported a 17% rise in credit card transactions to US$10.7 bn in the first half of 1998. This figure included US$4.4 bn from Visa Classic and US$6.5 bn from Visa Gold. The company indicated Hong Kong people spend more in overseas travel in Asia as result of regional currency devaluation. The number of Visa Classic cardholders and Gold cardholders was up 8% and 17% to 3.2 mn and 1.7 mn respectively. The delinquency rate increased to 3-4% from 1.25%-2%. The company will try to keep it at less than 4% by tightening credit control. Its cardholders spent average US$2,270. The highest spending was by Gold Card cardholders with average US$4,000, an increase of 15%. *
Comment:
Indicates that Hong Kong people spend more in overseas travel in Asia as result of regional currency devaluation
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Non-performing loans seen to rise 30%
Article Abstract:
According to the Japan Rating and Investment Information Inc, the non-performing loans of the Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China and the China Construction Bank are expected to rise to 30% by the end of 1998. It is a result of the steadily worsening performance of state-owned enterprises. Non-performing loans acquired about 25-26% of their total loan portfolios as of the end of 1997. *
Comment:
Non-performing loans of co is expected to rise to 30% by end of 1998
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
NAB in hunt for alliances
Article Abstract:
Australia's largest bank, the National Australia Bank is negotiating with financial institutions in Hong Kong, South Korea and Taiwan about specific alliances or possible acquisitions. However, there is no final decision. The bank's services, such as its mortgage loan product, could benefit from the alliances and develop into a major role player in the immature mortgage and securitisation markets. *
Comment:
Negotiates w/ financial institutions in Hong Kong, South Korea & Taiwan about specific alliances or possible acquisitions
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Val-Pak triples its ad spending. Culinar may consolidate account
- Abstracts: smart card to ensure safe net shopping French firm rolls out smart cards Smart-card solution for China
- Abstracts: Raiffeisen und PSK planen mit Sat 1 Bank-Gesch fte via Digital-Fernsehen Saftige Gesch fte: Boom bei Fruchts ften
- Abstracts: Spar tiivist kauppaketjuaan Olkiluoto valittiin ydinvoimaloiden ykk seksi