Summary
This 8-K filing from American Express (AXP) on June 13, 2012, provides an update on key performance indicators presented by Vice Chairman Edward Gilligan at the Morgan Stanley Financials Conference. The report details credit performance metrics for the U.S. Cardmember Loan portfolio in May 2012, showing a net write-off rate of 2.2% and a 30-day past due rate of 1.2%. These figures offer insight into the company's credit risk management and asset quality.
Key Highlights
- 1U.S. Cardmember Loan portfolio net write-off rate was 2.2% in May 2012.
- 2U.S. Cardmember Loan portfolio 30 days past due rate was 1.2% in May 2012.
- 3Worldwide billings growth (FX-adjusted) for the quarter to date (through May 31, 2012) was 9-10%.
- 4U.S. billings growth for the quarter to date (through May 31, 2012) was 9-10%.
- 5Billings growth in Q2 2012 to date was slower than Q1 2012 due to the leap year benefit in Q1.
- 6Billings growth was impacted by difficult year-over-year comparisons.
- 7EMEA billings growth (FX-adjusted) was approximately 5% for the quarter to date through May 31, 2012.