Citigroup Discloses April Credit Card Charge-Offs at 2.11%, Delinquency Rate at 1.4%
C sits 73% above its 52-week low of $71.65 on light trading volume (0.2× avg).
Summary
Citigroup has reported its credit card charge-off rate for April at 2.11% and a delinquency rate of 1.4%, as disclosed in an SEC filing. This operational update provides new insight into the bank's credit quality, a critical metric for a major credit card issuer like Citigroup. While a single month's data point, these figures are important for assessing consumer credit health and potential impacts on future loan loss provisions. Traders will closely monitor these trends in upcoming reports to gauge the trajectory of asset quality within Citigroup's significant credit card portfolio.
At the time of this announcement, C was trading at $123.77 on NYSE in the Finance sector, with a market capitalization of approximately $212.3B. The 52-week trading range was $71.65 to $135.29. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.