Delinquency rates bounce back at top US lenders
Weaker 2022 loans, tougher collections and seasonal factors push past-due loans higher in Q3
Delinquency rates at major US lenders rebounded to multi-year highs in the third quarter, with one bank acknowledging that its loans performed worse than expected.
Among the six banks analysed, Synchrony Financial saw the largest increase, with its 30-day delinquency rate jumping by 31 basis points to 4.78%, the highest level since 2019. Discover’s rate ticked up by 13bp to 3.46%, the most since 2010.
Ally Financial’s 30-day delinquency rate climbed 12bp to 2.82%, surpassing the previous high of
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