Citibank’s purchase dollar volume (PDV) for its U.S. retail credit card portfolio will likely decline slightly to $23.1 billion, compared to Q2/14, predicts RAM Research. In the first quarter PDV declined 1% YOY to $16.5 billion, according to CardData.
Citibank will report Q/15 results on July 18 before the market opens.
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.
End-of-Period (EOP) loans were flat YOY at $42.4 billion in Q1/15.
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 PURCHASE VOLUME
Q1/14: $16.5 billion
Q2/14: $23.5 billion
Q3/14: $19.7 billion
Q4/14: $20.4 billion
Q1/15: $16.7 billion
Q2/15: $23.1 billion
Source: Citibank; CardData
For data, background and forecasts on Citibank: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).