Citibank’s average yield for its U.S. retail credit card portfolio rose 5 basis points (bps) in the third quarter, compared to one-year ago, but down 6 bps sequentially. The net interest revenue (NIR), which includes some fees, also jumped by 30 bps year-on-year (YOY) for Q3/15, and up sharply by 37 bps 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 89.5 million accounts at the end of Q3/15, compared to 88.1 million for Q2/15 and 87.2 million for Q3/14, according to CardData.
Purchase Dollar Volume (PDV) rose 1% YOY to $19.8 billion, while End-of-Period (EOP) loans were flat YOY at $43.1 billion.
Delinquency (30-89 day) for the U.S. retail credit card portfolio rose to 1.76%, compared to 1.51% in the prior quarter, and 1.70% one-year ago.
Late-stage delinquency (90+ days) decreased 13 bps from Q2/15 to 1.44%, but remains lower than 1.47% for one-year ago.
However, charge-offs slowed down, to 3.69% in Q3/15, compared to 4.30% for Q2/15 and 4.23% for Q3/14.
CITiBANK U.S. RETAIL CARD METRICS
Source: Citibank; CardData
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