This is last quarter credit card performance metrics.
Citi operates two segments in credit cards, Branded Cards and Retail services. Retail services is a co-branded cards with retail businesses (like Macy’s, tractor supply, etc). If you see the quarterly spend on that is $23.3 B but the balance carried on those cards are $50 B and NII is 17.8%, that is this business generates $9 B in interest income Yearly. Currently NCL’s are 4.53% but I fully expect this to increase significantly. So between now, and recession and getting out, we should expect significant losses. Is that going to be as high as $10 B, probably. If it comes less than this number, that falls to the bottom line.