Bread Financial (BFH) Reports Mixed Loan Performance in April 2024

Bread Financial Holdings, Inc. (NYSE: BFH) has released its performance update for April 2024, revealing key metrics for comparison with the same period in 2023. The company's end-of-period credit card and other loans decreased from $18.039 billion in April 2023 to $17.891 billion in April 2024. However, the average credit card and other loans showed an increase from $17.666 billion in April 2023 to $18.006 billion in April 2024. This signifies a notable 2% decrease in year-over-year change in average credit card and other loans, as previously, this change stood at 6%.

In terms of net principal losses, there was an increase from $114 million in April 2023 to $127 million in April 2024, resulting in a rise in the net loss rate from 7.8% to 8.6% year-over-year. Looking at delinquencies, the 30 days + delinquencies * principal increased from $924 million in April 2023 to $993 million in April 2024. This contributed to a rise in the delinquency rate from 5.5% in April 2023 to 6.0% in April 2024.

It's important to note that the company revised the calculation of average credit card and other loans in January 2024 to align more closely with industry practice, resulting in differences in the calculations for year-over-year change in average credit card and other loans and net loss rate for the periods presented.

Bread Financial, a tech-forward financial services company based in Columbus, Ohio, continues to provide simple, personalized payment, lending, and saving solutions. It aims to create opportunities for its customers and partners through digitally enabled choices, offering ease, empowerment, financial flexibility, and exceptional customer experiences. With approximately 7,000 global associates, the company is committed to sustainable business practices and aims for growth through its comprehensive suite of payment solutions.

For further insights and details, interested individuals can visit or follow the company on various social media platforms. Today the company's shares have moved 1.4% to a price of $42.1. For more information, read the company's full 8-K submission here.

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