Citibank North America branded credit card metrics exploded again in the fourth quarter (4Q/16) as the Costco card acquisition from American Express last year remains in high gear, according to CardData. However, card income declined by double-digits in the fourth quarter, driven by the additional costs associated to the Costco portfolio.
North America Citi-branded card revenue jumped 15.4% YOY to $2235 million for 4Q/16, compared to $2213 million in the prior quarter and $1937 million for the year ago quarter. For 2016, Citi averaged $2059 million per quarter.
North America (N.A.) Citi-branded card income declined by 10.5% YOY to $461 million for 4Q/16, compared to $336 million in the prior quarter and $515 million for the year ago quarter. For 2016, Citi averaged $374 million per quarter.
End-of-Period (EOP) credit card outstandings soared by 28.0% YOY, compared to 25.6% YOY growth for 3Q/16. At the end of 4Q/16 Citi had $86.0 billion in U.S. EOP credit card outstandings, compared to $81.3 billion at the end of the prior quarter and $67.2 billion at the end of the year ago quarter.
Average N.A. credit card outstandings (OUT) jumped by 27.1% YOY, compared to 24.2% YOY growth for 3Q/16. During the fourth quarter Citi had $82.1 billion in U.S. average credit card OUT, compared to $79.2 billion for 3Q/16 and $64.6 billion for 4Q/15.
Citi N.A. credit card PDV increased 60.2% YOY to $78.5 billion for 4Q/16, compared to $73.1 billion for 3Q/16 and $49.0 billion for 4Q/15.
Citi N.A.’s EOP gross accounts (GAC) increased 40.9% YOY to 32.9 million for 4Q/16. For the previous quarter Citi reported 32.5 million GAC and 23.5 million one-year ago.
Citi N.A.’s consumer credit card early-stage (30-89 day) delinquency increased 2 basis points (bps) YOY and 7 bps Quarter-To-Quarter (QTQ) for 4Q/16. The issuer reported a 30-89 day delinquency ratio of 0.80% for 4Q/16, compared to 0.87% for 3Q/16 and 0.78% for 4Q/15.
Citi N.A.’s consumer credit card late-stage (90+ day) delinquency increased 7 bps YOY and . . . .