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Moderating trend in bankruptcy cases [23-03-2012]  
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It said there has been a moderating trend in bankruptcy cases in the last three years, particularly in 2011, where the number of cases increased by 5.8 per cent (19,167 new cases) compared with 11.7 per cent (18,119 new cases) in 2010.

These new cases accounted for only 0.3 per cent of the number of bank borrowers.

On a separate issue, BNM said the number of credit card holders in Malaysia (excluding defaulters) with revolving balances (those who do not settle the outstanding balances in full) also held steady at 46.4 per cent of total credit card holders compared with 47.9 per cent in 2010.

Although new applications for credit cards increased to 2.5 million last year (from 2.4 million in 2010), the number of cards approved declined to 1.2 million from 1.3 million, resulting in a lower approval-to-application ratio of 49.1 per cent (from 55.1 per cent).

While outstanding balances for credit cards had increased further in 2011 (8.7 per cent), part of this was due to the larger volume of retail credit card transactions as more Malaysians used credit cards as a payment instrument.

In terms of repayment behaviour, on average, about 30 per cent of credit card holders settled their balances in full, while almost 50 per cent settled at least the minimum payment of 5 per cent of total outstanding balance promptly each month.

About 60 per cent of the total amount spent every month was settled in full in the following month

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