J.P. Morgan Chase reported a 24% increase in credit card earnings compared to the first quarter of 2000, reflecting higher revenue from an increase in new accounts during the last three quarters. First quarter receivables were essentially flat at $36.2 billion. However chargeoffs edged up from 4.87% for 4Q/00 to 5.05% for 1Q/01. For additional info on Chase’s 1Q/01 results and other historical info visit CardData (www.carddata.com).
CHASE CARD TRACK RECORD
1Q/01 4Q/00 3Q/00 2Q/00 1Q/00 4Q/99
Outstandings: $36.2B $36.2B $33.0B $31.9B $32.2B $33.6B
Chargeoffs: 5.05% 4.87% 4.97% 5.09% 5.39% 5.24%
B-billions Source: CardData (www.carddata.com)Details