Keywords: DBS, Piyush Gupta, UK Cards Association, Frost & Sullivan

"I don't think it will fall off a cliff, but since there will be winners and losers, you'd better be very thoughtful."
DBS CEO Piyush Gupta warning of risks by over-borrowing in the Chinese economy.

The following are notes from our Monday morning meeting.

US consumer credit advanced by $19.6b to a record $2.8t as of May 2013, as credit card debt reached $847.1b, the highest level since September 2010.

UK Cards Association reported 10.8b debit card transactions in 2012, a 6.1% YoY increase, as debit card spending online overtook credit cards, recording $53.4b in payment value.

70% of Kenya's 41.6m population have access to a mobile phone, but not a formal bank account.

Debt issuance in the Middle East increased 40% in 1H 2013, reaching $26b.

Japanese bank lending grew 2.2% to $4t in June 2013, the largest annual growth in four years, as demand for mortgage, investment and M&A loans increased.

Asian Banker Research found number of POS terminals in China rose from 800,000 in 2006 to 7.1m in 2012, as consumers’ bank card usage increased. Click here for more.

The Vietnam Automotive Manufacturers Association found new vehicle sales jumped 41% to 8,239 units in June 2013, from 5,824 units in 2012.

Asian Banker Research found Indonesian banks’ loan to deposit ratio grew to 83.6% in 2012 from 75.2% in 2010, as Bank Indonesia encouraged bank lending efforts. Click here for more.

India's state-run banks will open 10,000 branches in FY 2013 as the country attempts to extend formal financial services to an estimated 40% of the population who remain unbanked..

Frost & Sullivan forecast the online shopping segment in Australia to be worth $18.3b in 2013, driven by a greater variety of goods from retailers.