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Banks Commissions Debt Collection Agents to Handle 25% More Accounts in 2H24
Recommend 18 Positive 39 Negative 13 |
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In 2H24, 33 banks or authorized institutions assigned nearly 548,500 accounts to 21 debt collection agents (DCAs), an increase of over 25% over the 436,800 accounts assigned in 1H24, the Hong Kong Monetary Authority (HKMA) issued a circular to banks saying. The number of DCAs engaged in 2H24 also increased by 2 over that in 1H24. The number of DCA-related complaints received during the period amounted to 34, up 54% or 12 cases YoY, 6 cases more than that in 1H24. The number of complaints per 1,000 accounts was 0.06, same as the level in 1H24, but ahead of the 2023 level. AAStocks Financial News |
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