Taiwan's Credit Card Spending Hits Record High NT$204B. in June

Taiwan's credit card spending hit a record monthly high of NT$204.3 billion (US$6.91 billion) in June, an annual rise of 9.8%. In the first half (H1) of the year, such spending accumulated to NT$1.0061 trillion (US$33.54 billion), up 6.96% year on year.

In 2013 credit card spending totaled NT$1.9 trillion (US$63.3 billion) and this year such figure will very likely keep growing to hit annual record high of over NT$2 trillion (US$66.67 billion).

June credit card spending has been on an uptrend over the last three year, with the 2011 figure being NT$160.5 billion (US$5.35 billion), 2012 figure being NT$172.1 billion (US$5.74 billion), and 2013's being NT$186 billion (US$6.2 billion).

This year credit card spending in June further rose to NT$204.3 billion (US$6.91 billion), with card issuers CTBC Bank leading with NT$37.48 billion (US$1.25 billion), far ahead of counterparts, and Cathay United Bank in  second place with NT$26.56 billion (US$885.33 million), E Sun Bank leading  Citibank's NT$21.5 billion (US$716.67 million) to take third with NT$23.15 billion (US$771.67 million).

The four banks' June combined credit card spending amounted to NT$108.7 billion (US$3.623 billion), accounting for over half of the total. (JL)