American Express posts June consumer net write-off rates of 1.4% and small business 2.3%

American Express reported June net write-off rates of 1.4% for U.S. Consumer and 2.3% for U.S. Small Business card portfolios.

Key Highlights:

• Total U.S. Consumer card balances held for investment were $113.8B in June; 30-day delinquencies 1.1%.
• U.S. Small Business balances were $45.9B in June with 30-day delinquencies 1.4%.
• Net write-off rates in June: 1.4% for Consumer and 2.3% for Small Business; three-month rates 1.8% and 2.4% respectively.
• Sale of previously written-off balances in June reduced June net write-off rates by ~0.3% (Consumer) and ~0.1% (Small Business).

Original SEC Filing:

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