Synchrony and Discover lead US banks on rising net charge-offs

Executives expect trend to continue as credit normalisation proceeds apace

US banks saw net charge-offs rise in the first quarter of the year, as credit normalisation hit consumers amid higher interest rates.

Of 14 lenders analysed by Risk Quantum, 12 reported higher net charge-off rates compared with the previous quarter. All of them saw higher rates for unrecoverable loans on a yearly basis.

Synchrony and Discover stood out reporting the highest quarterly increase of the group.

!function(e,i,n,s){var t="InfogramEmbeds",d=e.getElementsByTagName("script")[0];if

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here