Taiwan's Credit Card Spending Hits Record High of NT$1.9 Trillion in 2013

Last year Taiwan's credit card spending hit a record high of NT$1.91 trillion (US$63.67 billion), with monthly spending averaging at NT$135 billion (US$4.5 billion) and annual per-card spending of NT$50,000 (US$1,667), according to statistics released by the Banking Bureau of the Financial Supervisory Commission (FSC).

Nine months of 2013 each saw spending of over NT$150 billion (US$5 billion). In June the figure hit a record high of NT$186.6 billion (US$6.22 billion).

For the year as a whole, however, the outstanding amount of revolving credit at year-end continued its eighth annual decline, falling to NT$118.5 billion (US$3.95 billion), and at the end of December the number of cards in circulation was down 780,000 from a month earlier. to 35.95 million. Of that total, 22.56 million cards were regarded as effective, having been used within the past six months.

The top five issuers of credit cards in Taiwan last year were CTBC Bank, Cathay United Bank, E. Sun Bank, Taishin International Bank, and Citibank (Taiwan). (JL)