OGI75
- Citibank’s (NYSE:C) credit card trust’s delinquency rate in July rose from June as its net charge-off rate drifted down. Meanwhile, its lending activity declined from the prior month.
- The Citibank Credit Card Issuance Trust’s delinquency rate for the period ended July 26, 2024, increased to 1.44% from 1.36% in June. That compared with 1.21% a year ago and 1.53% in July 2019, before the pandemic disrupted the U.S. economy.
- Its net charge-off rate of 2.36% dipped from 2.50% in the previous month and rose from 1.89% in the year-ago period. In the pre-pandemic month of July 2019, the charge-off rate was 2.91%.
- The trust’s ending balance of principal receivables of $22.2B slipped 2.2% M/M and 6.7% Y/Y, according to the bank’s filing.
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