Summary by Moomoo AI
American Express released its U.S. Consumer and Small Business Card Member lending portfolio statistics for June 2024. Total Card Member loans reached $113.6B, with U.S. Consumer loans at $85.0B and Small Business loans at $28.6B.The delinquency rates remained stable, with 30-day past due loans at 1.3% for Consumer cards and 1.4% for Small Business cards. Net write-off rates showed improvement, with Consumer cards decreasing to 2.3% from 2.5% in April, while Small Business cards recorded a 2.4% rate.The American Express Credit Account Master Trust, representing a portion of securitized loans, reported an annualized default rate of 1.5% for June 2024, with total delinquencies of $0.2B on a principal balance of $25.8B.
