NYSE
19 days, 13 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Roger Ballou Receives New Restricted Stock Unit Grant
Roger H. Ballou, a Director at Bread Financial Holdings, Inc., has been granted 2,802 restricted stock units, which are set to vest on June 16, 2026.
NYSE
19 days, 13 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director John Fawcett Receives New Equity Grant
Bread Financial Holdings, Inc. Director John J. Fawcett was granted 2,802 restricted stock units, increasing his total beneficial ownership to 9,275 shares.
NYSE
19 days, 13 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director John C. Gerspach Reports Acquisition of Restricted Stock Units
John C. Gerspach, a Director at Bread Financial Holdings, Inc., reported the acquisition of 2,802 restricted stock units, vesting in June 2026, as part of a routine compensation grant.
NYSE
19 days, 13 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Praniti Lakhwara Receives New Restricted Stock Unit Grant
Bread Financial Holdings, Inc. Director Praniti Lakhwara was granted 2,802 restricted stock units, increasing her total beneficial ownership to 5,622 shares.
NYSE
19 days, 13 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Rajesh Natarajan Acquires Additional Restricted Stock Units
Rajesh Natarajan, a Director at Bread Financial Holdings, Inc. (BFH), has reported the acquisition of 2,802 restricted stock units, increasing his total beneficial ownership to 19,804 shares.
NYSE
19 days, 13 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Joyce St Clair Granted 2,802 Restricted Stock Units
Joyce St Clair, a Director at Bread Financial Holdings, Inc., was granted 2,802 restricted stock units, which are set to vest on June 16, 2026, increasing her total beneficial ownership to 9,669 shares.
NYSE
19 days, 13 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Timothy Theriault Receives New RSU Grant
Timothy J. Theriault, a Director at Bread Financial Holdings, Inc., was granted 2,802 restricted stock units set to vest on June 16, 2026, as part of his compensation.
NYSE
19 days, 13 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Laurie Anne Tucker Boosts Stake with New RSU Grant
Bread Financial Holdings, Inc. Director Laurie Anne Tucker has acquired 2,802 restricted stock units, increasing her beneficial ownership to 33,821 shares, with the new grant vesting on June 16, 2026.
NYSE
19 days, 13 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Sharen Turney Receives New Restricted Stock Unit Grant
Bread Financial Holdings, Inc. Director Sharen J. Turney was granted 2,802 restricted stock units, which are set to vest on June 16, 2026, increasing her total beneficial ownership to 21,536 shares.
NYSE
27 days, 0 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Reports Improved Credit Quality Metrics for May 2025 Amidst Slight Loan Portfolio Contraction
Bread Financial Holdings, Inc. announced a performance update for May 2025, showing a year-over-year improvement in net loss and delinquency rates, despite a slight decrease in overall loan balances.
Delay expected
 
Better than expected
 
NYSE
33 days, 0 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Announces Early Tender Results for $150 Million Senior Notes Offer, Oversubscribed by Over 3.5x
Bread Financial Holdings, Inc. announced the early tender results of its cash tender offer for its 9.750% Senior Notes due 2029, with approximately $536.8 million tendered against a $150 million cap.
Better than expected
 
NYSE
48 days, 0 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Announces $150 Million Cash Tender Offer for Senior Notes Due 2029
Bread Financial Holdings, Inc. has announced a cash tender offer to repurchase up to $150 million of its 9.750% Senior Notes due in 2029.
NYSE
54 days, 15 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Holdings Announces Results of 2025 Annual Stockholders Meeting
Bread Financial Holdings held its 2025 annual meeting of stockholders, electing directors, approving executive compensation, and ratifying the selection of Deloitte & Touche LLP as its independent accounting firm.
NYSE
56 days, 0 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Reports Improved Credit Performance in April 2025
Bread Financial Holdings, Inc. announced a performance update for April 2025, highlighting improvements in net loss and delinquency rates compared to the previous year.
Better than expected
 
NYSE
70 days, 9 hours ago 
BFH
Bread Financial Holdings, INC
10-Q: Bread Financial Reports Q1 2025 Results: Credit Sales Up, Strategic Capital Moves Highlight Quarter
Bread Financial's Q1 2025 results show a slight increase in credit sales and strategic moves to strengthen its balance sheet.
Worse than expected
 
NYSE
75 days, 0 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Reports Performance Update for March 2025
Bread Financial Holdings, Inc. released a performance update for March 2025, detailing net loss and delinquency rates.
Worse than expected
 
NYSE
75 days, 0 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Reports Solid Q1 2025 Results, Announces Quarterly Dividend
Bread Financial announced first quarter 2025 results with net income of $138 million and declared a quarterly cash dividend of $0.21 per share.
NYSE
81 days, 14 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Holdings Director, John C. Gerspach, Receives Stock Grant
Director John C. Gerspach acquired 842 shares of Bread Financial Holdings, Inc. through a restricted stock unit grant that will vest on April 15, 2026.
NYSE
96 days, 20 hours ago 
BFH
Bread Financial Holdings, INC
DEFA14A: Bread Financial Holdings Sets Date for Annual Stockholders Meeting
Bread Financial Holdings will hold its annual meeting of stockholders on May 13, 2025, to elect directors, conduct an advisory vote on executive compensation, and ratify the selection of Deloitte & Touche LLP as the independent accounting firm.
NYSE
97 days, 0 hours ago 
BFH
Bread Financial Holdings, INC
DEF: Bread Financial Reports Solid 2024 Performance Amidst Macroeconomic Challenges, Focuses on Long-Term Growth
Bread Financial demonstrated resilience in 2024, delivering solid performance and making strategic investments to enhance profitability and shareholder value despite a challenging macroeconomic environment.
BFH 
Bread Financial Holdings, INC 
NYSE

8-K: Bread Financial Announces Early Tender Results for $150 Million Senior Notes Offer, Oversubscribed by Over 3.5x

Sentiment:
 Current Report Tender Offer Results
 5 June 2025 7:45 AM

Bread Financial Holdings, Inc. announced the early tender results of its cash tender offer for its 9.750% Senior Notes due 2029, with approximately $536.8 million tendered against a $150 million cap.

Better than expected
  The tender offer was significantly oversubscribed, with approximately $536.8 million in Notes tendered against a $150 million Tender Cap. This indicates strong participation and allows the company to achieve its debt reduction goals effectively.  The successful execution of the early tender results means the company can proceed with purchasing the desired amount of Notes, thereby managing its debt obligations and potentially reducing future interest expenses. 

Summary
  • Bread Financial Holdings, Inc. (NYSE: BFH) announced the early tender results for its previously announced cash tender offer for up to $150,000,000 in aggregate principal amount of its 9.750% Senior Notes due 2029.
  • As of the Early Participation Date on June 4, 2025, approximately $536,786,000 in aggregate principal amount of the Notes had been validly tendered and not validly withdrawn.
  • This amount significantly exceeded the Tender Cap of $150,000,000, resulting in an oversubscription.
  • Holders whose Notes are accepted for purchase will receive a Total Consideration of $1,071.25 for each $1,000 principal amount of Notes, which includes an Early Participation Amount of $50.00.
  • Accrued and unpaid interest will also be paid on all accepted Notes from the last interest payment date up to the purchase date.
  • The Withdrawal Date passed on June 4, 2025, meaning tendered Notes can no longer be withdrawn.
  • Due to the oversubscription, no Notes tendered after the Early Participation Date will be accepted for purchase, and there will be no Final Payment Date.
  • The Company anticipates settlement of accepted Notes on June 9, 2025 (the Early Payment Date).
  • Notes tendered at a Bid Price resulting in a Bid Premium equal to the Clearing Premium of $31.25 will be accepted on a prorated basis, with an approximate Proration Factor of 77.538%.
  • Notes tendered at a Bid Price resulting in a Bid Premium in excess of the Clearing Premium will not be accepted.
Sentiment

Score: 8

Explanation: The sentiment is positive because the tender offer was significantly oversubscribed, indicating strong market interest and allowing Bread Financial to successfully manage its debt obligations by repurchasing a substantial portion of its senior notes. This proactive debt management is a positive financial move.

Positives
  • The tender offer was significantly oversubscribed, with approximately $536.8 million tendered against a $150 million cap, indicating strong investor confidence and willingness to participate in the debt reduction initiative.
  • The successful tender offer allows Bread Financial to manage its debt profile and potentially reduce future interest expenses on the 9.750% Senior Notes due 2029.
  • The company secured a favorable Total Consideration of $1,071.25 per $1,000 principal amount, including an early participation premium, which was well-received by noteholders.
Negatives
  • Due to the oversubscription and the Tender Cap, a significant portion of the tendered Notes (approximately $386.8 million) will not be accepted for purchase, potentially disappointing some noteholders who wished to sell their Notes.
Risks
  • Macroeconomic conditions, including market conditions, inflation, interest rates, labor market conditions, recessionary pressures, and their impact on consumer spending, payments, and debt levels.
  • Global political and public health events, including shifts in trade policy, tariffs, geopolitical instability, wars, and natural disasters.
  • Future credit performance of the Company's customers, including delinquency and write-off rates.
  • Loss of, or reduction in demand for services from, significant brand partners or customers.
  • Concentration of the Company's business in U.S. consumer credit.
  • Increases or volatility in the Allowance for credit losses due to the CECL model.
  • Inaccuracies in models and estimates, including for Allowance for credit losses and credit risk management.
  • Increases in fraudulent activity.
  • Failure to identify, complete, or successfully integrate or disaggregate business acquisitions, divestitures, and strategic initiatives.
  • Dependence on brand partners, including their financial performance and reputation.
  • Increases in the cost of doing business, including market interest rates.
  • The Company's level of indebtedness and inability to access financial or capital markets, including asset-backed securitization funding or deposits markets.
  • Restrictions limiting the ability of Comenity Bank and Comenity Capital Bank to pay dividends to the Company.
  • Pending and future litigation and regulatory matters.
  • Increases in regulatory capital requirements or other support for the Banks.
  • Impacts from or relating to the transition of credit card processing services to third-party providers.
  • Failures or breaches in operational or security systems, including cyberattacks, technology modernization impacts, and information security control failures.
  • Loss of consumer information or other data due to compromised physical or cyber security, including financially motivated bad actors and supply chain issues.
  • Tax or other liability or adverse impacts related to the spinoff of the former LoyaltyOne segment or the bankruptcy filings of Loyalty Ventures Inc. and subsequent disputes.
Future Outlook

The Company anticipates that the settlement of Notes accepted for purchase will occur on June 9, 2025. The successful completion of this tender offer will allow Bread Financial to manage its debt structure for the 9.750% Senior Notes due 2029.

Management Comments
  • Bread Financial Holdings, Inc. announced the early tender results of its previously announced cash tender offer for its 9.750% Senior Notes due 2029.
Industry Context

This tender offer is a common debt management strategy employed by financial services companies to optimize their capital structure, reduce interest expenses, or manage upcoming debt maturities. By repurchasing a portion of its high-interest senior notes, Bread Financial is proactively managing its liabilities in a potentially rising interest rate environment or to improve its overall financial flexibility, a practice consistent with prudent financial management in the sector.

Comparison to Industry Standards
  • The oversubscription of the tender offer, with tendered amounts significantly exceeding the cap, suggests strong market confidence in Bread Financial's credit quality and financial stability, aligning with successful debt management exercises seen across the financial services industry.
  • The Total Consideration offered, including an early participation premium, is competitive and reflects market conditions for similar debt instruments, comparable to offers made by other financial institutions undertaking liability management initiatives.
  • The use of a proration factor due to oversubscription is a standard mechanism in tender offers when the amount tendered exceeds the company's desired purchase amount, ensuring equitable treatment among participating noteholders.
Stakeholder Impact
  • **Shareholders:** Potential positive impact from improved capital structure, reduced interest expense, and enhanced financial flexibility.
  • **Noteholders (9.750% Senior Notes due 2029):** Those whose notes are accepted will receive the Total Consideration and accrued interest, providing liquidity. Those whose notes are not accepted (due to proration or exceeding the Clearing Premium) will have their notes returned.
Next Steps
  • The Company anticipates settlement of Notes accepted for purchase on June 9, 2025 (the Early Payment Date).
  • Notes not accepted for purchase (due to proration or exceeding the Clearing Premium) will be promptly returned to Holders.
Legal Proceedings
  • The document generally mentions 'pending and future litigation' as a risk factor, but no specific new legal proceedings are announced in this filing.
Key Dates
  • 2025-05-21: Date of the Offer to Purchase document for the tender offer.
  • 2025-06-04: Early Participation Date and Withdrawal Date for the cash tender offer (5:00 p.m., New York City time).
  • 2025-06-05: Date of the press release announcing early tender results and the filing of the 8-K report.
  • 2025-06-09: Anticipated Early Payment Date for Notes accepted for purchase.
  • 2025-06-20: Scheduled expiration of the Tender Offer (5:00 p.m., New York City time), unless extended or terminated, though no more Notes will be accepted after the Early Participation Date.
Keywords
Tender Offer, Senior Notes, Debt Management, Bread Financial, BFH, Financial Services, Corporate Finance, Fixed Income, Credit Cards, Consumer Lending
BFH 
Bread Financial Holdings, INC 
NYSE
Sector: Financial Services
 
Filings with Classifications
Better than expected
11 June 2025 7:01 AM
Performance Update
  • The net loss rate improved to 8.0% from 8.8% year-over-year.
  • Net principal losses decreased to $120 million from $133 million year-over-year.
  • The delinquency rate improved to 5.7% from 5.9% year-over-year.
  • 30 days+ delinquencies decreased to $926 million from $976 million year-over-year.
  • Despite the company's forward-looking statement that hurricane-related actions would negatively impact Q2 2025 metrics, the reported actuals for May 2025 show year-over-year improvement in key credit quality indicators.
Delay expected
11 June 2025 7:01 AM
Performance Update
  • The company froze delinquency progression for cardholders in Federal Emergency Management Agency (FEMA) identified impact zones for one billing cycle due to hurricanes Helene and Milton. This action delayed the recognition of certain losses, resulting in modestly lower Net principal losses and Net loss rate in the fourth quarter of 2024, and will consequently negatively impact these metrics in the second quarter of 2025.
Better than expected
5 June 2025 7:45 AM
Current Report Tender Offer Results
  • The tender offer was significantly oversubscribed, with approximately $536.8 million in Notes tendered against a $150 million Tender Cap. This indicates strong participation and allows the company to achieve its debt reduction goals effectively.
  • The successful execution of the early tender results means the company can proceed with purchasing the desired amount of Notes, thereby managing its debt obligations and potentially reducing future interest expenses.
Better than expected
13 May 2025 7:01 AM
Performance Update
  • The net loss rate improved from 8.6% to 7.8% year-over-year.
  • The delinquency rate decreased from 6.0% to 5.7% year-over-year.
  • Net principal losses decreased from $127 million to $114 million year-over-year.
Worse than expected
28 April 2025 9:49 PM
Quarterly Report
  • Average and end-of-period credit card and other loans decreased, indicating a contraction in lending activity.
  • Total interest income decreased due to lower late fees and average loan balances, suggesting weaker revenue generation from core lending operations.
  • The 2025 outlook has been adjusted to reflect slower credit sales growth and slightly higher inflation, signaling a less optimistic future performance.
Worse than expected
24 April 2025 6:56 AM
Performance Update
  • The net loss rate increased to 8.1% for the month and 8.2% for the quarter, indicating worsening credit performance.
  • Net principal losses were $123 million for the month and $365 million for the quarter, suggesting increased credit risk.
Better than expected
17 March 2025 7:31 AM
Performance Update
  • The net loss rate improved from 8.9% to 8.6% year-over-year.
  • The delinquency rate improved from 6.7% to 6.2% year-over-year.
Capital raise
6 March 2025 1:32 AM
Debt Offering Announcement
  • Bread Financial is raising $400 million through a private offering of subordinated notes.
  • The net proceeds are expected to be approximately $395 million after deducting the initial purchasers' discount.
  • The company intends to lend at least $250 million of the proceeds to Comenity Capital Bank.
  • The remaining proceeds may be used for general corporate purposes, including share repurchases.
Capital raise
5 March 2025 7:45 AM
8-K Filing
  • Bread Financial intends to offer $400 million aggregate principal amount of fixed-rate reset subordinated notes in a private offering.
  • The company intends to lend no less than $250 million of the net proceeds of the Notes offering as subordinated debt to one of its subsidiary banks, Comenity Capital Bank, with the remaining proceeds intended to be used for general corporate purposes, which may include share repurchases.
Worse than expected
30 January 2025 6:52 AM
Quarterly Report
  • The company's net income and adjusted net income decreased significantly year-over-year, indicating worse than expected results.
  • Revenue decreased by 9% in the fourth quarter, primarily due to lower finance charges and late fees, indicating worse than expected results.
  • Income from continuing operations decreased by 83% in the fourth quarter, primarily due to lower net interest income and higher total non-interest expenses, indicating worse than expected results.
Worse than expected
30 October 2024 5:52 PM
Quarterly Report
  • The company's net income decreased significantly due to increased provision for credit losses and expenses related to convertible note repurchases.
  • The company's net interest margin decreased due to decreased late fees and higher funding costs.
  • The company's credit sales decreased, reflecting a slowdown in consumer spending and strategic credit tightening.
Worse than expected
24 October 2024 6:57 AM
Performance Update
  • The net loss rate increased to 7.4% for the month and 7.8% for the three-month period, indicating a deterioration in credit quality.
  • The delinquency rate also increased slightly to 6.4%, suggesting a higher proportion of loans are becoming past due.
Worse than expected
24 October 2024 6:55 AM
Quarterly Report
  • The company's net income and earnings per share were significantly lower than the previous year due to the impact of the convertible note repurchase and increased credit losses.
  • Revenue decreased year-over-year, indicating a slowdown in business activity.
  • The delinquency and net loss rates increased, suggesting a deterioration in credit quality.
Better than expected
21 October 2024 5:06 PM
Material Definitive Agreement
  • The document indicates better results due to the extension of the maturity date, lower interest rates, and increased financial flexibility.
Worse than expected
16 September 2024 7:31 AM
Performance Update
  • The net loss rate increased from 6.7% to 7.8% year-over-year.
  • Net principal losses increased from $99 million to $118 million year-over-year.
  • The delinquency rate increased from 5.9% to 6.2% year-over-year.
Worse than expected
15 August 2024 7:31 AM
Performance Update
  • The net loss rate increased from 7.4% to 8.0%, indicating a deterioration in credit quality.
  • The delinquency rate rose from 5.7% to 6.2%, suggesting more borrowers are falling behind on payments.
  • Net principal losses increased from $108 million to $120 million, reflecting higher credit losses.
Worse than expected
31 July 2024 5:51 PM
Quarterly Report
  • The company's credit sales decreased by 7% year-over-year, indicating a slowdown in consumer spending.
  • The net interest margin decreased to 18.0% from 18.7% in the same quarter last year, due to higher funding costs.
  • The company expects 2024 average credit card and other loans to be down low-single digits.
Delay expected
31 July 2024 5:51 PM
Quarterly Report
  • The final rule on credit card late fees published by the CFPB had an original effective date of May 14, 2024, but was delayed by a court injunction.
Worse than expected
25 July 2024 6:56 AM
Performance Update
  • The net loss rate and delinquency rate both increased compared to the previous year, indicating a worsening credit performance.
Worse than expected
25 July 2024 6:52 AM
Quarterly Report
  • The company's revenue decreased by 1% year-over-year, indicating a worse performance than the previous year.
  • The company's credit sales decreased by 7% year-over-year, indicating a worse performance than the previous year.
  • The company's net loss rate increased to 8.6% from 8.0% in the second quarter of 2023, indicating a worse performance than the previous year.
Worse than expected
12 June 2024 7:31 AM
Performance Update
  • The net loss rate increased from 8.4% to 8.8%, indicating a deterioration in credit quality.
  • The delinquency rate increased from 5.5% to 5.9%, suggesting a higher risk of future losses.
Worse than expected
15 May 2024 7:31 AM
Performance Update
  • The net loss rate increased from 7.8% to 8.6%, indicating a deterioration in credit quality.
  • The delinquency rate increased from 5.5% to 6.0%, suggesting a higher risk of future losses.
  • Net principal losses increased from $114 million to $127 million, reflecting higher credit losses.
Worse than expected
1 May 2024 5:50 PM
Quarterly Report
  • The company's total net interest and non-interest income decreased by 23% year-over-year.
  • Credit sales decreased by 18% year-over-year.
  • The provision for credit losses increased due to a smaller reserve release and higher net principal losses.
Worse than expected
25 April 2024 6:57 AM
Performance Update
  • The delinquency rate increased from 5.7% to 6.2%, indicating a worsening credit quality.
  • The net loss rate increased to 8.5% for the three months ended March 31, 2024, compared to the previous year, indicating higher losses.
Worse than expected
25 April 2024 6:54 AM
Quarterly Report
  • The company's revenue and net income decreased significantly compared to the same quarter last year, primarily due to the sale of the BJ's portfolio in the prior year and the impact of the CFPB late fee rule.
  • The company's net loss rate increased to 8.5% from 7.0% in the first quarter of 2023, indicating a deterioration in credit quality.
  • The company expects average credit card and other loans to be down low-single digits relative to 2023, indicating a slowdown in growth.
Worse than expected
13 March 2024 7:02 AM
Performance Update
  • The net loss rate increased from 7.8% to 8.9% year-over-year.
  • The delinquency rate increased from 6.0% to 6.7% year-over-year.
Delay expected
20 February 2024 7:13 AM
Annual Results
  • The document mentions that certain lenders of private placement commitments within the company's securitization trusts have sought and obtained amendments to their respective transaction documents permitting them to delay disbursement of funding increases by up to 35 days.
Capital raise
20 February 2024 7:13 AM
Annual Results
  • The company issued and sold $316 million aggregate principal amount of 4.25% Convertible Senior Notes due 2028.
  • The company issued and sold $600 million aggregate principal amount of 9.750% Senior Notes due 2029.
  • The company issued and sold an additional $300 million aggregate principal amount of Senior Notes due 2029 in January 2024.
Worse than expected
20 February 2024 7:13 AM
Annual Results
  • The company's Delinquency rate of 6.5% as of December 31, 2023 exceeded the peak rate during the Great Recession.
  • The company's Net loss rate of 7.5% for 2023 is high relative to historical experience.
  • The company's 2024 financial outlook anticipates lower revenue and a higher Net loss rate.
Worse than expected
15 February 2024 7:35 AM
Performance Update
  • The net loss rate increased from 6.7% to 8.0%, indicating a deterioration in credit quality.
  • The delinquency rate increased from 5.8% to 6.8%, suggesting more borrowers are falling behind on payments.
  • Average credit card and other loans decreased by 9%, indicating a contraction in the loan portfolio.
Worse than expected
25 January 2024 6:56 AM
Performance Update
  • The delinquency rate increased from 5.5% to 6.5% year-over-year, indicating a deterioration in credit quality.
  • The average loan balances decreased year-over-year, suggesting a potential slowdown in business growth.
  • The net loss rate of 8.2% for the month is higher than the 8.0% for the three months, indicating a worsening trend.
Worse than expected
25 January 2024 6:52 AM
Quarterly Report
  • The company's revenue decreased by 2% in Q4 2023 compared to Q4 2022.
  • The company's net loss rate increased to 8.0% in Q4 2023 from 6.3% in Q4 2022.
  • The company expects average loan growth to be down low-single digits in 2024.
  • The company anticipates a decrease in total revenue for 2024.
  • The company expects a lower net interest margin in 2024.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.