Citigroup Credit Card Charge-Offs 2.65% In Jan 2024 Vs 2.34% In Dec 2023; Credit Card Delinquency Rate 1.51% At Jan 2024 End Vs 1.45% At Dec 2023 End
Portfolio Pulse from Benzinga Newsdesk
Citigroup reported an increase in credit card charge-offs to 2.65% in January 2024 from 2.34% in December 2023. Additionally, the credit card delinquency rate rose to 1.51% at the end of January 2024, up from 1.45% at the end of December 2023, according to an SEC filing.
February 15, 2024 | 7:06 pm
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Citigroup's credit card charge-offs and delinquency rates have increased as of January 2024, indicating a potential rise in financial risk for the company.
The increase in both credit card charge-offs and delinquency rates suggests that Citigroup may face higher financial risk due to potential losses from non-repayment of credit card debts. This could negatively impact investor sentiment and the company's financial performance in the short term, leading to a potential decrease in stock price.
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