Bread Financial September delinquency rate falls to 5.57% from 6.04% year earlier
BFH•Bread Financial’s September 30 delinquency rate fell to 5.57% from 6.04% a year earlier. September average loans rose 6.4% year over year to $18.74 billion, while the net principal loss rate was 5.99%.
1. September credit metrics
Bread Financial reported a September net principal loss rate of 5.99%, with net principal losses of $92 million. For the three months ended September 30, the rate was 6.4%, with losses of $300 million. September average credit card and other loans increased 6.4% year over year to $18.74 billion; the quarterly average rose 5.7% to $18.59 billion.
