Bread Financial Provides Performance Update for November 2025
Rhea-AI Summary
Bread Financial (NYSE: BFH) provided a November 2025 performance update reporting credit portfolio and asset-quality metrics.
Key figures: end-of-period loans $18,094M; average loans $17,776M (down ~1% year-over-year); net principal losses $109M; net loss rate 7.4% (vs 8.0% Nov 2024); 30+ delinquencies $967M; delinquency rate 6.0% (vs 6.2% Nov 2024). The company noted a 2024 one-cycle delinquency freeze in FEMA-affected areas that modestly reduced 2024 net losses.
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Key Figures
Market Reality Check
Peers on Argus
BFH gained 1.44% with mixed peer action: ENVA +0.91%, WU +1.00%, QFIN +0.36%, while SEZL fell 3.43% and LU was flat. Moves do not point to a unified sector trend.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 03 | Conference participation | Neutral | +2.7% | Announcement of participation in Goldman Sachs 2025 Financial Services Conference. |
| Nov 20 | Preferred offering priced | Neutral | -1.1% | Pricing of Series A preferred depositary share offering with stated net proceeds. |
| Nov 20 | Preferred offering launch | Neutral | -1.1% | Launch of underwritten public offering of Series A preferred depositary shares. |
| Nov 13 | Monthly performance update | Neutral | -3.3% | October 2025 update showing modest improvement in credit metrics year over year. |
| Nov 06 | Conference participation | Neutral | -0.1% | Notice of appearance at the KBW Fintech Payments Conference with webcast access. |
Recent BFH headlines, including monthly performance updates, conferences and preferred offering activity, have produced modest single‑digit price moves that generally align with the neutral-to-informational nature of the news flow.
Over the last month, Bread Financial has combined routine updates with balance sheet actions. The October 2025 performance update showed end-of-period loans of $17,694M, a net loss rate of 7.5%, and a 6.1% delinquency rate, modestly better than a year earlier. The company then launched and priced a Series A preferred stock offering with expected net proceeds of about $72.6M. Conference participation on Nov 13 and Dec 10 highlighted ongoing investor outreach. Today’s November 2025 credit metrics continue this cadence of monthly credit quality disclosure.
Regulatory & Risk Context
An automatic shelf registration on Form S-3ASR filed on Nov 17, 2025 allows Bread Financial to issue preferred stock and related depositary shares over time, with proceeds earmarked for general corporate purposes such as liquidity, refinancing debt, funding operations and loans, acquisitions, and potential security repurchases.
Market Pulse Summary
This announcement details November 2025 credit performance, with end-of-period loans of $18,094M, a net loss rate of 7.4% versus 8.0% a year earlier, and a delinquency rate of 6.0% versus 6.2%. These follow October’s modest improvements and sit alongside recent preferred and debt offerings and an effective S-3ASR shelf. Investors may watch monthly loss and delinquency trends, plus future capital markets usage, to assess portfolio quality and funding flexibility.
AI-generated analysis. Not financial advice.
COLUMBUS, Ohio, Dec. 10, 2025 (GLOBE NEWSWIRE) -- Bread Financial Holdings, Inc. (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions to millions of U.S. consumers, provided a performance update. The following tables present the Company’s net loss rate and delinquency rate for the periods indicated:
| For the month ended November 30, 2025 | For the month ended November 30, 2024 | ||||||
| (dollars in millions) | |||||||
| End-of-period credit card and other loans | $ | 18,094 | $ | 18,143 | |||
| Average credit card and other loans | $ | 17,776 | $ | 17,947 | |||
| Year-over-year change in average credit card and other loans | (1 | %) | (1 | %) | |||
| Net principal losses(1) | $ | 109 | $ | 118 | |||
| Net loss rate(1) | 7.4 | % | 8.0 | % | |||
| As of November 30, 2025 | As of November 30, 2024 | ||||||
| (dollars in millions) | |||||||
| 30 days + delinquencies – principal | $ | 967 | $ | 1,032 | |||
| Period ended credit card and other loans – principal | $ | 16,251 | $ | 16,695 | |||
| Delinquency rate | 6.0 | % | 6.2 | % | |||
__________________________________________________________________________
| (1) | As a result of hurricanes Helene and Milton we froze delinquency progression for cardholders in Federal Emergency Management Agency identified impact zones for one billing cycle, which resulted in modestly lower Net principal losses and Net loss rate in the fourth quarter of 2024. |
About Bread Financial®
Bread Financial® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions to millions of U.S consumers. Our payment solutions, including Bread Financial general purpose credit cards and savings products, empower our customers and their passions for a better life. Additionally, we deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, jewelry and specialty apparel through our private label and co-brand credit cards and pay-over-time products providing choice and value to our shared customers.
To learn more about Bread Financial, our global associates and our sustainability commitments, visit breadfinancial.com or follow us on Instagram and LinkedIn.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our expectations or forecasts of future events and can generally be identified by the use of words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “project,” “plan,” “likely,” “may,” “should” or other words or phrases of similar import. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding, and the guidance we give with respect to, our anticipated operating or financial results, future financial performance and outlook, future dividend declarations, and future economic conditions.
We believe that our expectations are based on reasonable assumptions. Forward-looking statements, however, are subject to a number of risks and uncertainties that are difficult to predict and, in many cases, beyond our control. Accordingly, our actual results could differ materially from the projections, anticipated results or other expectations expressed in this release, and no assurances can be given that our expectations will prove to have been correct. Factors that could cause the outcomes to differ materially include, but are not limited to, the following: macroeconomic conditions, including market conditions, inflation, interest rates, labor market conditions, recessionary pressures or concerns over a prolonged economic slowdown, and the related impact on consumer spending behavior, payments, debt levels, savings rates and other behaviors; global political and public health events and conditions, including significant shifts in trade policy, such as changes to, or the imposition of, tariffs and/or trade barriers and any economic impacts, volatility, uncertainty and geopolitical instability resulting therefrom, as well as ongoing wars and military conflicts and natural disasters; future credit performance, including the level of future delinquency and write-off rates; loss of, or reduction in demand for services from, significant brand partners or customers in the highly competitive markets in which we operate, including competition from new and non-traditional competitors, such as financial technology companies, and with respect to new products, services and technologies, such as the emergence or increase in popularity of agentic commerce, digital payment platforms and currencies and other alternative payment and deposit solutions; the concentration of our business in U.S. consumer credit; inaccuracies in the models and estimates on which we rely, including the amount of our Allowance for credit losses and our credit risk management models; the inability to realize the intended benefits of acquisitions, dispositions and other strategic initiatives; our level of indebtedness and ability to access financial or capital markets; pending and future federal and state legislation, regulation, supervisory guidance, and regulatory and legal actions, including, but not limited to, those related to financial regulatory reform and consumer financial services practices, as well as any such actions with respect to late fees, interchange fees or other charges; impacts arising from or relating to the transition of our credit card processing services to third party service providers that we completed in 2022; failures or breaches in our operational or security systems, including as a result of cyberattacks, unanticipated impacts from technology modernization projects or otherwise; and any tax or other liability or adverse impacts arising out of or related to the spinoff of our former LoyaltyOne segment or the bankruptcy filings of Loyalty Ventures Inc. (LVI) and certain of its subsidiaries and subsequent litigation or other disputes. The foregoing factors, along with other risks and uncertainties that could cause actual results to differ materially from those expressed or implied in forward-looking statements, are described in greater detail under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K. Our forward-looking statements speak only as of the date made, and we undertake no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.
Contacts
Brian Vereb — Investor Relations
Brian.Vereb@breadfinancial.com
Susan Haugen — Investor Relations
Susan.Haugen@breadfinancial.com
Rachel Stultz — Media
Rachel.Stultz@breadfinancial.com
FAQ
What was Bread Financial's net loss rate for November 2025 (BFH)?
How did Bread Financial's delinquency rate change year-over-year as of November 30, 2025 (BFH)?
What were Bread Financial's end-of-period and average credit card loans for November 2025 (BFH)?
How much were Bread Financial's net principal losses in November 2025 (BFH)?
What was the 30+ delinquency principal balance for Bread Financial as of November 30, 2025 (BFH)?
Did Bread Financial note any special adjustments affecting 2024 loss metrics (BFH)?
