{"id":740158,"date":"2023-03-15T07:03:05","date_gmt":"2023-03-15T11:03:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/bread-financialtm-provides-performance-update-for-february-2023\/"},"modified":"2023-03-15T07:03:05","modified_gmt":"2023-03-15T11:03:05","slug":"bread-financialtm-provides-performance-update-for-february-2023","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bread-financialtm-provides-performance-update-for-february-2023\/","title":{"rendered":"Bread FinancialTM Provides Performance Update for February 2023"},"content":{"rendered":"

<\/p>\n

Bread FinancialTM<\/sup> Provides Performance Update for February 2023<\/b><\/p>\n

COLUMBUS, Ohio–(BUSINESS WIRE<\/a>)–Bread Financial Holdings, Inc.<\/a> (NYSE: BFH), a tech-forward financial services company providing simple, personalized payment, lending and saving solutions, provided a performance update. The following tables present the Company\u2019s net loss rate and delinquency rate for the periods indicated.\n<\/p>\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

For the
\n
<\/b>month ended
\n
<\/b>February 28, 2023(1)<\/sup><\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

For the
\n<\/b>
month ended
\n<\/b>
February 28, 2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(dollars in millions)\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nEnd-of-period credit card and other loans\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n18,113\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n16,799\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAverage credit card and other loans\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n19,809\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n16,571\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nYear-over-year change in average credit card and other loans\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n20\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n5\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet principal losses(2)<\/sup><\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n128\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n66\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet loss rate(2)<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n7.8\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4.8\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

As of
\n
<\/b>February 28, 2023(1)<\/sup><\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

As of
\n<\/b>
February 28, 2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(dollars in millions)\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n30 days + delinquencies \u2013 principal (2)<\/sup><\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n1,012\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n695\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nPeriod ended credit card and other loans \u2013 principal\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n16,911\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n15,973\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nDelinquency rate (2)<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4.4\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\n___________________________________\n<\/p>\n\n\n\n
(1)<\/sup>\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nFebruary 2023 includes the effects of our sale of the BJ’s Wholesale Club (BJ\u2019s) credit card portfolio.\n<\/p>\n<\/td>\n<\/tr>\n

\n

(2)<\/sup>\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nAs previously communicated, the month ended February 28, 2023 Net principal losses, Net loss rate, 30 days + delinquencies \u2013 principal, and Delinquency rate were impacted by the transition of our credit card processing services. Excluding the transition impact, which is timing-related, and the impact from the BJ\u2019s portfolio sale, the Net loss rate for February 2023 would have nominally decreased sequentially following seasonal trends.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

About Bread Financial\u2122<\/sup><\/b><\/p>\n

Bread Financial<\/a>TM<\/a><\/sup><\/b> (NYSE: BFH) is a tech-forward financial services company providing simple, personalized payment, lending and saving solutions. The company creates opportunities for its customers and partners through digitally enabled choices that offer ease, empowerment, financial flexibility and exceptional customer experiences. Driven by a digital-first approach, data insights and white-label technology, Bread Financial delivers growth for its partners through a comprehensive product suite, including private label and co-brand credit cards, installment lending, and buy now, pay later (BNPL). Bread Financial also offers direct-to-consumer solutions that give customers more access, choice and freedom through its branded Bread CashbackTM<\/sup> American Express\u00ae<\/sup> Credit Card<\/a><\/b> and Bread SavingTM<\/sup><\/a><\/b> products.\n<\/p>\n

\nHeadquartered in Columbus, Ohio, Bread Financial is powered by its 7,500+ global associates and is committed to sustainable business practices. To learn more about Bread Financial, visit BreadFinancial.com<\/a><\/b> or follow us on Facebook<\/a><\/b>, LinkedIn<\/a><\/b>, Twitter<\/a><\/b> and Instagram<\/a><\/b>.\n<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nThis release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our expectations or forecasts of future events and can generally be identified by the use of words such as \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cproject,\u201d \u201cplan,\u201d \u201clikely,\u201d \u201cmay,\u201d \u201cshould\u201d or other words or phrases of similar import. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding, and the guidance we give with respect to, our anticipated operating or financial results, future financial performance and outlook, future dividend declarations, and future economic conditions.\n<\/p>\n

\nWe believe that our expectations are based on reasonable assumptions. Forward-looking statements, however, are subject to a number of risks and uncertainties that are difficult to predict and, in many cases, beyond our control. Accordingly, our actual results could differ materially from the projections, anticipated results or other expectations expressed in this release, and no assurances can be given that our expectations will prove to have been correct. Factors that could cause the outcomes to differ materially include, but are not limited to, the following: macroeconomic conditions, including market conditions, inflation, rising interest rates, unemployment levels and the increased probability of a recession, and the related impact on consumer payment rates, savings rates and other behavior; global political and public health events and conditions, including the ongoing war in Ukraine and the continuing effects of the global COVID-19 pandemic; future credit performance, including the level of future delinquency and write-off rates; the loss of, or reduction in demand from, significant brand partners or customers in the highly competitive markets in which we compete; the concentration of our business in U.S. consumer credit; inaccuracies in the models and estimates on which we rely, including the amount of our Allowance for credit losses and our credit risk management models; the inability to realize the intended benefits of acquisitions, dispositions and other strategic initiatives; our level of indebtedness and ability to access financial or capital markets; pending and future legislation, regulation, supervisory guidance, and regulatory and legal actions, including, but not limited to, those related to financial regulatory reform and consumer financial services practices, as well as any such actions with respect to late fees, interchange fees or other charges; impacts arising from or relating to the transition of our credit card processing services to third party service providers that we completed in 2022; failures or breaches in our operational or security systems, including as a result of cyberattacks, unanticipated impacts from technology modernization projects or otherwise; and any tax liability, disputes or other adverse impacts arising out of the spinoff of our former LoyaltyOne segment. The foregoing factors, along with other risks and uncertainties that could cause actual results to differ materially from those expressed or implied in forward-looking statements, are described in greater detail under the headings \u201cRisk Factors\u201d and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d in our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K. Our forward-looking statements speak only as of the date made, and we undertake no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230315005099\/en\/<\/a><\/span><\/p>\n

Investors\/Analysts
\n<\/span><\/b>
Brian Vereb
\n
Bread Financial
\n
Brian.Vereb@BreadFinancial.com<\/a><\/p>\n

Media
\n<\/span><\/b>
Rachel Stultz
\n
Bread Financial
\n
Rachel.Stultz@BreadFinancial.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Ohio<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Payments Technology Finance Fintech Banking Personal Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Bread FinancialTM Provides Performance Update for February 2023 COLUMBUS, Ohio–(BUSINESS WIRE)–Bread Financial Holdings, Inc. (NYSE: BFH), a tech-forward financial services company providing simple, personalized payment, lending and saving solutions, provided a performance update. The following tables present the Company\u2019s net loss rate and delinquency rate for the periods indicated. \u00a0 For the month ended February 28, 2023(1) \u00a0 For the month ended February 28, 2022 \u00a0 (dollars in millions) End-of-period credit card and other loans $ 18,113 \u00a0 \u00a0 $ 16,799 \u00a0 Average credit card and other loans $ 19,809 \u00a0 \u00a0 $ 16,571 \u00a0 Year-over-year change in average credit card and other loans \u00a0 20 % \u00a0 \u00a0 5 % Net principal losses(2) $ 128 \u00a0 \u00a0 $ 66 … <\/p>\n

Continue reading “Bread FinancialTM Provides Performance Update for February 2023”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-740158","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nBread FinancialTM Provides Performance Update for February 2023 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bread-financialtm-provides-performance-update-for-february-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bread FinancialTM Provides Performance Update for February 2023 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Bread FinancialTM Provides Performance Update for February 2023 COLUMBUS, Ohio–(BUSINESS WIRE)–Bread Financial Holdings, Inc. (NYSE: BFH), a tech-forward financial services company providing simple, personalized payment, lending and saving solutions, provided a performance update. The following tables present the Company\u2019s net loss rate and delinquency rate for the periods indicated. \u00a0 For the month ended February 28, 2023(1) \u00a0 For the month ended February 28, 2022 \u00a0 (dollars in millions) End-of-period credit card and other loans $ 18,113 \u00a0 \u00a0 $ 16,799 \u00a0 Average credit card and other loans $ 19,809 \u00a0 \u00a0 $ 16,571 \u00a0 Year-over-year change in average credit card and other loans \u00a0 20 % \u00a0 \u00a0 5 % Net principal losses(2) $ 128 \u00a0 \u00a0 $ 66 … Continue reading "Bread FinancialTM Provides Performance Update for February 2023"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/bread-financialtm-provides-performance-update-for-february-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-15T11:03:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230315005099r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bread-financialtm-provides-performance-update-for-february-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bread-financialtm-provides-performance-update-for-february-2023\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Bread FinancialTM Provides Performance Update for February 2023\",\"datePublished\":\"2023-03-15T11:03:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bread-financialtm-provides-performance-update-for-february-2023\\\/\"},\"wordCount\":992,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bread-financialtm-provides-performance-update-for-february-2023\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20230315005099r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bread-financialtm-provides-performance-update-for-february-2023\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/bread-financialtm-provides-performance-update-for-february-2023\\\/\",\"name\":\"Bread FinancialTM Provides Performance Update for February 2023 - 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(NYSE: BFH), a tech-forward financial services company providing simple, personalized payment, lending and saving solutions, provided a performance update. The following tables present the Company\u2019s net loss rate and delinquency rate for the periods indicated. \u00a0 For the month ended February 28, 2023(1) \u00a0 For the month ended February 28, 2022 \u00a0 (dollars in millions) End-of-period credit card and other loans $ 18,113 \u00a0 \u00a0 $ 16,799 \u00a0 Average credit card and other loans $ 19,809 \u00a0 \u00a0 $ 16,571 \u00a0 Year-over-year change in average credit card and other loans \u00a0 20 % \u00a0 \u00a0 5 % Net principal losses(2) $ 128 \u00a0 \u00a0 $ 66 … Continue reading \"Bread FinancialTM Provides Performance Update for February 2023\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/bread-financialtm-provides-performance-update-for-february-2023\/","og_site_name":"Market Newsdesk","article_published_time":"2023-03-15T11:03:05+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230315005099r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bread-financialtm-provides-performance-update-for-february-2023\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bread-financialtm-provides-performance-update-for-february-2023\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Bread FinancialTM Provides Performance Update for February 2023","datePublished":"2023-03-15T11:03:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bread-financialtm-provides-performance-update-for-february-2023\/"},"wordCount":992,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bread-financialtm-provides-performance-update-for-february-2023\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230315005099r1&sid=flmnd&distro=nx&lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bread-financialtm-provides-performance-update-for-february-2023\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/bread-financialtm-provides-performance-update-for-february-2023\/","name":"Bread FinancialTM Provides Performance Update for February 2023 - 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