American Express Delinquency And Write-off Rate Statistics
American Express Company (NYSE:AXP) is hereby furnishing below delinquency and write-off statistics for the lending portfolio of its U.S. Card Services (“USCS”) operating segment for the months ended April 30, May 31 and June 30, 2015 and the three months ended June 30, 2015.
American Express Company
U.S. Card Services
Delinquency and Write-off Rate Statistics
As of and for the months ended April 30, May 31 and June 30, 2015 and the three months ended June 30, 2015
(Billions, except percentages)
| April 30, 2015 |
May 31, 2015 |
(Preliminary) June 30, 2015 |
(Preliminary) Three months ended June 30, 2015 |
|||||||||||||
| Card Member lending: | ||||||||||||||||
| Total loans | $ | 60.3 | $ | 61.8 | $ | 61.7 | $ | 61.7 | ||||||||
| 30 days past due loans as a % of total | 0.9 | % | 0.9 | % | 0.9 | % | 0.9 | % | ||||||||
| Average loans | $ | 60.1 | $ | 61.1 | $ | 61.8 | $ | 60.9 | ||||||||
| Net write-off rate – principal only (a) | 1.5 | % | 1.3 | % | 1.3 | % | 1.4 | % | ||||||||
| (a) | Net write-off rate based on principal only (i.e., excluding interest and/or fees). |
Note: The statistics presented above are based on the USCS operating segment’s total portfolio of Card Member loans determined in accordance with U.S. generally accepted accounting principles, which includes all securitized and non-securitized Card Member loans.
American Express Company (NYSE:AXP) is a global services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world.
The Company’s segments include U.S. Card Services, International Card Services, Global Commercial Services and Global Network & Merchant Services. The Company’s United States banking subsidiaries, Centurion Bank and AEBFSB, issue a range of Card products and services. It also issues its charge and credit Cards around the world either on its own or as cobrands with partnering institutions.
The Company provides expense management and travel services to companies and organizations through its Global Corporate Payments and Global Business Travel businesses. The Global Network & Merchant Services (GNMS) segment operates a global payments network that processes and settles card transactions.
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Source: http://marketdailynews.com/2015/07/15/american-express-delinquency-and-write-off-rate-statistics/
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