Investor Presentaiton
Additional Commentary - Variance Analysis
The following summary provides selected variance information for the three months ended September 30, 2023 compared to the same period in the prior year. It
should be read in conjunction with the statistical tables for Q3'23, available at ir.americanexpress.com.
Discount Revenue: Increased 7 percent versus Q3'22, primarily driven by an increase in billed business.
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Net Card Fees: Increased 20 percent versus Q3'22, primarily driven by growth in our premium card portfolios.
Service Fees and Other Revenue: Increased 8 percent versus Q3'22, primarily driven by foreign exchange related revenues associated with Card Member
cross-currency spending and growth in delinquency fees.
Processed Revenue: Increased 1 percent versus Q3'22, primarily driven by an increase in network partner volumes, partially offset by a decrease in volumes
associated with the decommission of one of our alternative payment solutions.
Interest Income: Increased 55 percent versus Q3'22, primarily driven by higher interest rates and growth in revolving loan balances.
Interest Expense: Increased versus Q3'22, primarily driven by higher interest rates paid on customer deposits.
Provisions for Credit Losses: Increased 58 percent versus Q3'22, primarily driven by higher net write offs, partially offset by a lower net reserve build in the
current period.
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