• Mon
  • Apr 21, 2014
  • Updated: 5:03pm

Credit Cards

US consumer debt rises despite less use of credit cards

US consumer credit rose more than expected in September, but credit card usage fell for a fourth straight month, which could help shed some light on the slowdown in consumer spending growth during the third quarter.

Friday, 8 November, 2013, 12:42pm

DBS says interest margin on credit cards shrinks as fee income rises

Ken Chew of DBS Bank's consumer division in Hong Kong said the interest margin - a measure of profitability - on its credit card business declined in the first quarter compared with the same period last year.

6 Jun 2013 - 4:15am

Big bank battle is on the cards

Credit card and mortgage services are already the two main areas these rival banks compete in, but industry watchers warn that profits will not come easily. Retail banking faces high costs for every effort from branch expansion to marketing and advertising in Hong Kong, one of the world's most expensive cities.

11 Jun 2013 - 12:40pm

Cyprus to reopen banks, impose capital controls

Cyprus reopens its banks on Thursday while limiting withdrawals, banning cheques and curbing the use of Cypriot credit cards abroad, among measures imposed to avert a bank run after it agreed a tough rescue deal with international lenders.

28 Mar 2013 - 8:02am

UnionPay seeks to turn tables on market leaders Visa and MasterCard

In a rare interview with overseas media, Xu Luode, the president and chief executive of the mainland's bank card association, told the South China Morning Post that UnionPay would strive to improve its global market share by attracting members to its international business arm with a profit-sharing scheme.

11 Mar 2013 - 4:48am

The (low) price of credit card loyalty

Credit cards do more than offer credit. They radiate aspiration - the top ones come with names like Ultima, Platinum and Infinite - and they come with perks.

4 Mar 2013 - 5:02am

Aeon reports 12pc rise in profit

Consumer finance firm Aeon Credit Service (Asia) posted a 12 per cent year-on-year rise in net profit for the nine months to November 20, thanks to higher income from insurance sales, lower loan losses and gain on investments disposal.

22 Dec 2012 - 2:36am

UnionPay card joins pack of top players

Among the designer brands from Prada to Chanel at the Harrods flagship store in London, Li Yafang spotted a logo she knows from back home: the red, blue and green of UnionPay cards.

13 Dec 2012 - 3:34am

China's UnionPay grows to challenge Visa

Among the designer brands from Prada to Chanel at the Harrods flagship store in London, Chinese housewife Li Yafang spotted a logo she knows from back home: the red, blue and green of UnionPay cards.

12 Dec 2012 - 12:54pm 2 comments

Cut in fees for credit-card payments to erode bank profits

Beijing's efforts to boost domestic consumption may weigh on banks' profits as a reduction in credit-card transaction fees will eat into their fee income.

The State Council had approved a plan to reduce transaction charges on credit-card payments, Xinhua reported on Tuesday, citing a notice issued by the People's Bank of China.

The PBOC spokesman was not available for comment.

29 Nov 2012 - 3:53am

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