Summary
This 8-K filing from American Express (AXP) provides investors with updated preliminary credit performance statistics for its U.S. Consumer and U.S. Small Business Card Member loans held for investment, as of and for the months ended September 30, August 31, and July 31, 2025, along with data for the three months ended September 30, 2025. The report highlights key metrics such as loan balances, 30-day past due rates, and net write-off rates. While the data is preliminary, it offers insight into the company's credit quality trends in a dynamic economic environment. Overall, the disclosed figures indicate stable credit performance across both consumer and small business segments. Delinquency rates remained consistent, and net write-off rates showed a slight improvement or remained stable, particularly for the consumer segment. This suggests that American Express's underwriting and risk management strategies are effectively managing potential credit headwinds. Investors should monitor these metrics for any significant deviations in future filings as they are a key indicator of asset quality and future profitability.
Key Highlights
- 1Preliminary credit performance data for U.S. Consumer and U.S. Small Business Card Member loans held for investment as of and for the periods ending July, August, and September 2025.
- 2Total U.S. Consumer Card Member loans held for investment stood at $94.1 billion as of September 30, 2025.
- 3U.S. Consumer 30-day past due loans remained stable at 1.4% as of September 30, 2025.
- 4Net write-off rate for U.S. Consumer loans was 1.9% for the three months ended September 30, 2025, showing a slight improvement from prior periods.
- 5Total U.S. Small Business Card Member loans held for investment were $30.7 billion as of September 30, 2025.
- 6U.S. Small Business 30-day past due loans remained stable at 1.6% as of September 30, 2025.
- 7Net write-off rate for U.S. Small Business loans was 2.6% for the three months ended September 30, 2025, showing a slight decrease from prior periods.