American Express Consolidated Provision For Credit Losses $1.4B vs $1.2B A Year Ago
Portfolio Pulse from Benzinga Newsdesk
American Express reported a consolidated provision for credit losses of $1.4 billion, up from $1.2 billion a year ago, indicating a potential increase in credit risk.
October 18, 2024 | 11:02 am
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American Express has increased its provision for credit losses to $1.4 billion from $1.2 billion a year ago, suggesting a rise in anticipated credit risk.
The increase in provision for credit losses suggests that American Express anticipates higher credit defaults, which could negatively impact its financial performance and investor sentiment in the short term.
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