Summary
This 8-K filing from American Express (AXP) provides updated delinquency and write-off statistics for its U.S. Consumer Card Member and U.S. Small Business Card Member lending portfolios as of July 31, 2022, and for the preceding two months. The data indicates stable credit performance across both segments, with 30-day past due rates remaining consistent. Net write-off rates also showed minimal fluctuation, suggesting resilience in American Express's loan portfolios during the reporting period. This information is supplementary to previously reported data and offers investors a more granular view of the company's credit risk management.
Key Highlights
- 1U.S. Consumer Card Member loans totaled $65.1 billion as of July 31, 2022.
- 230-day delinquency rate for U.S. Consumer Card Member loans remained stable at 0.7% for May, June, and July 2022.
- 3Net write-off rate for U.S. Consumer Card Member loans was 0.8% for June and July, and 0.9% for May.
- 4U.S. Small Business Card Member loans totaled $20.0 billion as of July 31, 2022.
- 530-day delinquency rate for U.S. Small Business Card Member loans remained stable at 0.6% for May, June, and July 2022.
- 6Net write-off rate for U.S. Small Business Card Member loans was 0.6% for June and July, and 0.7% for May.
- 7The filing also provides credit performance data for the American Express Credit Account Master Trust, showing stable annualized default rates and delinquency levels.