Summary
This 8-K filing from American Express (AXP) on January 17, 2017, provides updated credit performance statistics for its U.S. Consumer Services (USCS) and U.S. Small Business Card Member lending portfolios for the months of October, November, and December 2016, as well as the fourth quarter of 2016. The report highlights key metrics such as loan balances, delinquency rates (30 days past due), and net write-off rates. Investors can use this information to gauge the health of American Express's loan portfolios and assess potential credit risk. Overall, the data indicates stable credit performance during the reported periods, with 30-day delinquency rates remaining consistent at 1.1% across both USCS and U.S. Small Business portfolios. Net write-off rates also remained relatively stable, particularly for the USCS segment. The filing also provides supplementary data on the American Express Credit Account Master Trust, offering further insights into its credit performance and a comparison to the broader loan portfolios.
Key Highlights
- 1Provides delinquency and write-off rate statistics for Q4 2016 and the months of October, November, and December 2016 for U.S. Consumer Services (USCS) and U.S. Small Business loan portfolios.
- 2Total loans in the USCS portfolio grew from $45.5 billion in October to $48.8 billion in December 2016.
- 3Total loans in the U.S. Small Business portfolio increased from $9.2 billion in October to $9.5 billion in December 2016.
- 430-day past due loan rates remained consistent at 1.1% for both USCS and U.S. Small Business portfolios across all reported months.
- 5Net write-off rate for USCS was stable at 1.5% for November and December 2016, and 1.6% for October.
- 6Net write-off rate for U.S. Small Business fluctuated slightly, from 1.2% in November to 1.6% in December 2016, averaging 1.4% for the quarter.
- 7Includes credit performance data for the American Express Credit Account Master Trust, showing stable annualized default rates of 1.1%.