Citicorp, by far the largest bank credit card lender, charged off a startling 6.2% of its credit card outstandings in 1991, according to American Banker's annual survey of top card issuers.

Among the top 25 companies in bank credit card lending - ranked in tables beginning on page 14 - Citicorp's $1.1 billion of chargeoffs was second on a percentage basis only to American Express Co., which wrote off 8.4% of the loans that were on its books at yearend. American Express' problems were in its Optima card unit.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.