Bread Financial (BFH) Provides Performance Update for September 2023
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Bread Financial Holdings, Inc. (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions, provided a performance update. The following tables present the Company’s net loss rate and delinquency rate for the periods indicated.
| For the month ended September 30, 2023 |
| For the three months ended September 30, 2023 | ||||
| (dollars in millions) | ||||||
End-of-period credit card and other loans | $ | 17,922 |
|
| $ | 17,922 |
|
Average credit card and other loans | $ | 17,517 |
|
| $ | 17,540 |
|
Year-over-year change in average credit card and other loans |
| (1 | %) |
|
| — | % |
Net principal losses (1) | $ | 98 |
|
| $ | 304 |
|
Net loss rate (1) |
| 6.7 | % |
|
| 6.9 | % |
| As of September 30, 2023 |
| As of September 30, 2022 | ||||
| (dollars in millions) | ||||||
30 days + delinquencies – principal (2) | $ | 1,038 |
|
| $ | 970 |
|
Period ended credit card and other loans – principal | $ | 16,585 |
|
| $ | 17,029 |
|
Delinquency rate (2) |
| 6.3 | % |
|
| 5.7 | % |
__________________________________________________________________________ | |
(1) | As previously communicated, the three months ended September 30, 2023, specifically July 2023, Net principal losses and Net loss rate were impacted by the transition of our credit card processing services in June 2022. |
(2) | As previously communicated, the month ended September 30, 2022 30 days + delinquencies - principal and Delinquency rate were impacted by the transition of our credit card processing services in June 2022. |
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