Citibank’s average yield for its U.S. retail credit card portfolio rose 33 basis points (bps) in the first quarter, compared to one-year ago, and up 16 bps sequentially. The net interest revenue (NIR), which includes some fees, also jumped by 49 bps year-on-year (YOY) for Q1/15 and up slightly from the prior quarter.
Citibank’s retail credit card portfolio, which includes ExxonMobil, Macy’s, Sears, Shell, Best Buy, Home Depot and many others, reported 87.3 million accounts at the end of Q1/15, compared to 88.1 million for 4Q/14 and 88.2 million for 1Q/14, according to CardData.
Purchase Dollar Volume (PDV) declined 1% YOY to $16.5 billion, while End-of-Period (EOP) loans were flat YOY at $42.4 billion.
Delinquency (30-89 day) for the U.S. retail credit card portfolio declined to a record low of 1.59%, compared to 1.61% in the prior quarter, and 1.71% one-year ago.
However late-stage delinquency (90+ days) increased 2bps from Q4/14 to 1.48%, but remains sharply lower than 1.63% for one-year ago.
Charge-offs continued to decline, dropping to 4.00% in Q1/15, compared to 4.18% for Q4/14 and 4.47% for Q1/14.
CITUBANK U.S. RETAIL CARD METRICS
Source: Citibank; CardData
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