American Express Sept credit metrics: consumer net write-off 1.9%, small biz 2.5%

AMERICAN EXPRESS CO

Total U.S. consumer and small business card loans held for investment: $124.8B as of Sept 30.
U.S. consumer net write-off rate (principal) 1.9% in Sept, down from 2.0% in Aug and July.
U.S. small business net write-off rate (principal) 2.5% in Sept, down from 2.7% in Aug and July.
30+ day past due loans 1.4% for consumer and 1.6% for small business, stable month-over-month.
Lending Trust annualized default rate 1.3% in Sept, vs 1.1% in July; total delinquent $0.2B.

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