Updated to include SEC filing as source, change to July charge offs, additional delinquency data and closing stock price
NEW YORK (
net loans charged off in the U.S. totaled 11.18% during the month of August, up significantly from 9.75% in the preceding month, according to a
Securities and Exchange Commission
Citigroup's delinquency rate for loans more than 30 days late for the monthly period ending Aug. 26 totaled 4.95%, according to the 10-D filing by Citibank South Dakota National Association. Citi's delinquencies in July totaled 5.3%, according to the
Media reports had said in late August that Citigroup was likely to have higher-than-expected delinquencies as it works to
its consumer finance business,
Discover Financial Services
Bank of America
all reported an increase in net charge-offs in monthly filings.
said net charge offs held steady for the month of August.
Citigroup shares closed up 1.3%, to $3.97, on volume of 333 million, despite the sour news.
--Written by Laurie Kulikowski in New York.
To contact the writer of this article, click here:
To submit a news tip, send an email to:
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.