American Express reports May 2025 credit metrics; reclassifies $1.6B Amazon cobrand loans to held for sale

AMERICAN EXPRESS CO

Total U.S. Consumer & Small Business loans held for investment $124.0B at May 31, up from $122.3B in April.
U.S. Consumer net write-off rate (principal) 2.1% in May vs 2.0% in April; 30+ days past due 1.3% (down from 1.4%).
U.S. Small Business net write-off rate 2.4% (unchanged); 30+ days past due 1.5% (down from 1.6%).
Reclassified ~$1.6B in Amazon small business cobrand loans to held for sale effective June 1, 2025.
Lending Trust annualized default rate 1.3% in May (flat vs April, down from 1.5% in March).

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