Summary
This 8-K filing from American Express (AXP) provides an update on delinquency and write-off statistics for its U.S. Consumer Services (USCS) and U.S. Small Business lending portfolios as of and for the periods ending October 31, November 30, and December 31, 2017. The company is furnishing this information voluntarily under Regulation FD to offer investors additional insight into credit performance. The data covers total loans, 30-day past due percentages, and net write-off rates. It's important to note that these figures are preliminary for the most recent periods and represent both securitized and non-securitized loans, distinguishing them from data reported for the American Express Credit Account Master Trust (Lending Trust).
Key Highlights
- 1AXP is providing updated delinquency and write-off statistics for its U.S. Consumer Services and U.S. Small Business loan portfolios for Q4 2017.
- 2For the USCS Card Member loans, total loans grew from $50.0 billion in October to $53.7 billion in December 2017.
- 3The 30-day delinquency rate for USCS remained stable at 1.3% throughout the reported months.
- 4The net write-off rate for USCS loans increased slightly from 1.8% in October to a preliminary 2.0% in December 2017.
- 5For U.S. Small Business Card Member loans, total loans increased from $10.6 billion to $10.9 billion over the same period.
- 6The 30-day delinquency rate for U.S. Small Business loans was stable at 1.1%-1.2%.
- 7The net write-off rate for U.S. Small Business loans remained consistent at 1.6% for the three months reported.