AmEx reports Nov credit metrics: consumer write-off rate down, small-business up

AMERICAN EXPRESS CO

U.S. Consumer net write-off rate (principal) fell to 2.0% in Nov from 2.4% in Oct; 30+ day delinquency stable at 1.4%.
U.S. Small Business net write-off rate rose to 2.3% in Nov from 2.2% in Oct; delinquency unchanged at 1.5%.
Total Card Member loans (Consumer + Small Business) grew to $120.0B at Nov 30 from $118.5B at Oct 31.
Lending Trust annualized default rate was 1.3% in Nov vs 1.5% in Oct and 1.3% in Sep.

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