SL sees increased credit card usage

Sri Lanka’s credit card usage and the outstanding credit card balance during the year 2011 has shot up, shows the latest official data released.

According to the Central Bank of Sri Lanka, the outstanding credit balance borrowed via credit cards stood at Rs. 37.63 billion by end December 2011, compared to Rs. 31.61 billion remained as of December 2010.

Apart from it, the number of active credit cards in usage has also gone up to 862,340 by end 2011, from 778,474 remained as at end 2010.

Out of the total number of cards, locally active credit cards have risen to 61,320 by end December 2011, compared to 58,771 credit cards remained as at end 2010.

While, the globally active credit card number also has increased during the year 2011, standing at 801,020 cards, compared to 719,703 cards remained as of December 2010.

Outstanding credit balances borrowed via locally active credit cards has risen to just over Rs. 1 billion by end December 2011, from Rs. 840 million remained in end December 2010.

The outstanding credit card balances purchased via globally active credit cards has risen to Rs.36.53 billion by end 2011, compared to a balance of Rs. 30.77 billion stood one year ago.

Advertisement