Standard Chartered Bank has seen its credit card-holder base shrink more than 10 per cent year-on-year in the first quarter, due to tough competition. Peter Wong Tung-sing, the bank's head of personal banking for Hong Kong and China, said at the launch of a new credit card yesterday that he believed the bank's percentage of customer loss, which was lower than the market average, was due to competition. This marks the first time a major credit card business player in the territory has blamed its sufferings on competition gained over the past few years. Mr Wong said the number of cards issued by the Standard Chartered Bank in the first three months of 1997 grew 10 per cent, while account receivables outstanding increased 15 per cent year-on-year. The bank's bad debt as a percentage of outstanding receivables remained lower than the industry average, which stood at 2 per cent at the end of last year. Standard Chartered Bank and American International Assurance yesterday launched a credit card that carries its holder's medical history.