“We expect card fee growth to pick up as the year progresses as we see the impact from Platinum refresh exiting the year in the high teens.”

In context

“edit performance remains very strong and stable. Delinquency rates were flat to last quarter while write-off rates were slightly down. These results are consistent with our expectations for generally stable credit metrics throughout 2026. Overall provision expense of $1.3 billion included a reserve release of $24 million. The reserve release this quarter was mostly driven by lower ND card balances versus Q4. Our reserves also reflect uncertainty in the macroeconomic environment. Turning to revenue on Slide 16. Revenue was strong this quarter, up 11%. We saw momentum across revenue lines with net card fees, NII and service fees and other revenue, all growing at double-digit rates again this quarter. Net card fees continue to be our fastest-growing loan, up 16% FX adjusted, in line with Q4. We expect card fee growth to pick up as the year progresses as we see the impact from Platinum refresh exiting the year in the high teens. Importantly, about 1/4 of the overall U.S. consumer Platinum portfolio has been built for the higher annual fee, and we have seen no change to our very high retention rates relative to pre refresh. Net interest income was up 12% FX adjusted again this quarter, growing faster than balances. Notably, we are driving strong growth in NII, while growing balances, largely in line with spending, and while maintaining best-in-class credit results. In fact, write-off dollars are up by only 4% year-over-year, while NII is growing at double-digit risk pace. We also continue to see strong demand for our deposit products with high-yield savings and direct CD balances up 9% year-over-year. As we see -- as we see with our premium card products, our savings products is resonating with millennial and Gen”