The company said that as of May 31, 2024, its 30+ delinquency rate was 4.5%, and its net charge-off rate for the month of May 2024 was 6.5%. As of May 31, 2023, its 30+ delinquency rate was 3.8%.

8-KRegulation FD DisclosureFiled Jun 10, 2024Period of report Jun 10, 2024Summary published (UTC) Oct 26, 2026

Key points

AI summary

The company said that as of May 31, 2024, its 30+ delinquency rate was 4.5%, and its net charge-off rate for the month of May 2024 was 6.5%. As of May 31, 2023, its 30+ delinquency rate was 3.8%.
The company said the year-over-year increase in its 30+ delinquency rate as of May 31, 2024, and the year-over-year increase in its net charge-off rate for the month of May 2024, reflect the continued moderation in customer payment rates.
The company said period-end loan receivables were $102.4 billion as of May 31, 2024, and average loan receivables, including held for sale, were $101.4 billion for May 2024.
The company said it plans to continue providing these statistics on a monthly basis. It said the recovery adjustment for May 2024 was (0.1)%, and the adjusted net charge-off rate was 6.4%. The adjusted net charge-off rate is a non-GAAP measure.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

End-of-May 2024 30+ delinquency rate and net charge-off rate

The company said that as of May 31, 2024, its 30+ delinquency rate was 4.5%, and its net charge-off rate for the month of May 2024 was 6.5%. As of May 31, 2023, its 30+ delinquency rate was 3.8%.

Source · Based on the filing body and exhibits

Company explanation for year-over-year increases in metrics

The company said the year-over-year increase in its 30+ delinquency rate as of May 31, 2024, and the year-over-year increase in its net charge-off rate for the month of May 2024, reflect the continued moderation in customer payment rates.

Source · Based on the filing body and exhibits

Loan receivables at end of May 2024

The company said period-end loan receivables were $102.4 billion as of May 31, 2024, and average loan receivables, including held for sale, were $101.4 billion for May 2024.

Source · Based on the filing body and exhibits

Monthly disclosure policy and recovery adjustment

The company said it plans to continue providing these statistics on a monthly basis. It said the recovery adjustment for May 2024 was (0.1)%, and the adjusted net charge-off rate was 6.4%. The adjusted net charge-off rate is a non-GAAP measure.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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