Citi credit card delinquencies drift down, net charge-offs climb in August

Citigroup’s (NYSE:C) credit card metrics came in mixed in August, with delinquencies down and net charge-offs up sequentially, the company disclosed on Monday.

The Citibank Credit Card Master Trust delinquency rate fell to 1.36% from 1.42% in July and 1.46% a year earlier. It was also down from the pre-pandemic mark of 1.53% in August 2019.

The net charge-off rate of 2.38% compared with 2.07% in the prior month, as well as 2.38% in the year-ago period and 2.62% six years earlier, according to a U.S. Securities and Exchange Commission filing.

Lending activity advanced during the month, with principal receivables rising $20.8B at Aug. 26, from $20.7B at the beginning of the due period. Still, that’s down from $22.4B in August 2024.