Credit-card charge-offs rose 8.5% to $510 million or 0.82% of average receivables in the second quarter, the Monetary Authority says.

The increase was mainly attributable to write-offs in relation to bankruptcy petitions. The annualised charge-off ratio rose to 3.28% from 2.89% in the previous quarter.

Total card receivables rose 2.5% to 62.9 billion. The total number of credit-card accounts rose 4% to 10.6 million.

The rollover amount, which reflects the amount of borrowing by customers using their credit cards, was stable at $24.9 billion. Although the delinquent amount rose to $251 million, the delinquency ratio remained unchanged at 0.4% due to the increase in total card receivables.

The level of rescheduled receivables retained in the card portfolio amounted to $56 million or 0.09% of total receivables. The combined delinquent and rescheduled ratio edged down to 0.49% at end-June from 0.5% at end-March.