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Banks lend money like drunken sailors to drunken sailors and then are shocked when the sailor sail away.
Same as it ever was
Same as it ever was
Same as it ever was
Same
as
it
ever
was
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The story is not capturing what is really happening. Post pandemic period, credit card delinquency is abnormally low. So, with pandemic savings depleting, credit card defaults are running slightly higher to mean revert. The big banks have all adequately reserved and most of them are expecting this will run the course in the next 1 or 2 quarters. Given banks profitability the NCO’s are not bad.
Separately for those who think banks are making a mistake in making these credit card lending, have you every checked what is the interest rate they charge???
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