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Bank of America’s (NYSE:BAC) credit card delinquency and net charge-off rates declined in May as its lending activity edged down, according to data the company released on Monday.
BA Master Credit Card Trust II’s delinquency rate dipped to 1.37% in May from 1.42% in April and was roughly even with 1.38% in the same month a year ago. The metric still remains below its pre-pandemic level of 1.56% seen in May 2019.
The trust’s net charge-off rate of 2.44% dropped from 2.70% in April and 2.48% from May 2024. Like the delinquency rate, the print remains blow the May 2019 level of 2.83%.
Its lending activity eased some, with the trust’s receivables at $15.15B at May 30, down 0.3% from $15.20B at April 30 and down 4.2% from $15.82B at May 31, 2024, according to the filing.
Bank of America (NYSE:BAC) stock rose 1.6% in Monday morning trading.
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