Bread Financial Holdings, Inc. (NYSE: BFH) has released its performance update for November 2024, showcasing key metrics from the previous period. Comparing the month ended November 30, 2024, with the same period in 2023, there are notable changes in several financial indicators.
End-of-period credit card and other loans decreased from $18,780 million in November 2023 to $18,143 million in November 2024. This represents a 3.4% decrease year-over-year.
The average credit card and other loans also saw a decrease, from $18,200 million in November 2023 to $17,947 million in November 2024. This reflects an 8% decrease year-over-year.
Net principal losses experienced a slight decrease from $120 million in November 2023 to $118 million in November 2024.
The net loss rate increased slightly from 7.9% in November 2023 to 8.0% in November 2024.
In terms of delinquencies, the 30 days + delinquencies – principal decreased from $1,131 million in November 2023 to $1,032 million in November 2024, showing a 8.7% improvement year-over-year.
Period ended credit card and other loans – principal also saw a decrease from $17,402 million in November 2023 to $16,695 million in November 2024, reflecting a 4.1% decrease year-over-year.
The delinquency rate improved from 6.5% in November 2023 to 6.2% in November 2024.
The company noted that as a result of hurricanes Helene and Milton, delinquency progression for cardholders in FEMA-identified impact zones was frozen for one billing cycle. This action led to slightly lower net principal losses and net loss rates in the fourth quarter of 2024, offsetting higher net principal losses and net loss rates in the second quarter of 2025.
Headquartered in Columbus, Ohio, Bread Financial is a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions. The company focuses on delivering growth for its partners through a comprehensive suite of payment solutions, including private label and co-brand credit cards and buy now, pay later products.
Bread Financial's performance update for November 2024 presents a mixed picture, with certain metrics showing improvement while others experienced slight declines. Following these announcements, the company's shares moved 0.8%, and are now trading at a price of $64.84. For more information, read the company's full 8-K submission here.
