2023-06-15 15:30:54 ET
- Citibank's ( NYSE: C ) credit card trust disclosed a steady delinquency rate and increased net charge-off rate in May, while consumers' borrowing was little changed during the month.
- Citibank Credit Card Master Trust I delinquency rate was 1.15% compared with 1.14% in April. Both levels are still well below the May 2019 level of 1.57%.
- Net charge-off rate of 2.06% increased from 1.99% in the prior month and compared with 2.74% in May 2019.
- Principal receivables at May 25, 2023 were $23.70B, roughly even with the amount at the beginnning of the reporting period, Citi ( C ) disclosed in a filing Thursday.
- At the end of Q1, U.S. credit card debt amounted to $990B , unchanged from Q4 2022, the New York Fed said in May.
For further details see:
Citibank credit card delinquency rate stable in May, charge-off rate rises