China's overdue credit card payments rose 4.91 percent in the second quarter compared with the quarter before, the country's central bank said on Thursday in a report posted on its official website.
As the speed of growth in the country slows, borrowers have been finding it harder to repay debt, leading to an increase in soured loans.
Credit card payments overdue by more than six months hit 48.1 billion yuan ($7.22 billion) at the end of the second quarter, the People's Bank of China's report said. Those payments made up 1.43 percent of the total amount outstanding on credit cards. Nonperforming loans of the commercial banking sector rose to 1.81 percent of total lending at the end of the second quarter, the highest level since the financial crisis in 2009.
