Citibank’s average yield for its U.S. retail credit card portfolio rose 11 basis points (bps) in the second quarter, compared to one-year ago, and up 4 bps sequentially. The net interest revenue (NIR), which includes some fees, also jumped by 26 bps year-on-year (YOY) for Q2/15, but down slightly from the prior quarter. Also, credit quality improved in the quarter.
Citibank’s retail credit card portfolio, which includes ExxonMobil, Macy’s, Sears, Shell, Best Buy, Home Depot and many others, reported 88.1 million accounts at the end of Q2/15, compared to 87.2 million for Q1/15 and 88.8 million for Q2/14, according to CardData.
Purchase Dollar Volume (PDV) declined 1% YOY to $20.2 billion, while End-of-Period (EOP) loans were flat YOY at $43.2 billion.
Delinquency (30-89 day) for the U.S. retail credit card portfolio declined to a record low of 1.51%, compared to 1.59% in the prior quarter, and 1.58% one-year ago.
Late-stage delinquency (90+ days) decreased 17 bps from Q1/15 to 1.31%, but remains lower than 1.41% for one-year ago.
However, there was an uptick in charge-offs, climbing to 4.30% in Q2/15, compared to 4.00% for Q1/15 and 4.40% for Q2/14.
CITiBANK U.S. RETAIL CARD METRICS
Source: Citibank; CardData
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