Proprietary Report with Analysis on Bank of America U.S. Credit Card Company Performance.
Bank of America, the nation’s third largest Visa and MasterCard issuer, continued to struggle in the first quarter (1Q/17) with sluggish outstandings (OUT) and purchase dollar volume (PDV) growth, but other metrics, except charge-offs, remain fairly stable, according to CardData.
Pre-tax net income edged up 1.1% YOY to $1224 million in 1Q/17, compared to $1290 million in the prior quarter and $1211 million for the year ago quarter. For 2016, BofA averaged $1234 million per quarter.
End-of-Period (EOP) U.S. credit card outstandings moved upward by . . . .