Chase Auto Portfolio Hit $48.5 Billion in 2Q

Chase Auto Finance’s loan portfolio hit a seven-year high in the second quarter.

The bank closed the period with $48.5 billion of loans outstanding, up from $47.7 billion at March 31. By comparison, in the second quarter of 2005, Chase Auto’s portfolio totaled $50.4 billion.

For the past three years, Chase Auto’s portfolio has been hovering around the $47-million mark, up from about $42 million for the prior three years. In 2005, though, the bank’s auto portfolio averaged $50 billion.

Chase’s auto loan 30-day delinquency rate has improved notably since early 2005. Last quarter, 0.9% of loans outstanding were 30-days delinquent, compared with 1.45% in 2Q05.

Overall, parent company JPMorgan Chase reported second-quarter net income of $5.0 billion, down from $5.4 billion in 2Q11. The bulk of the decline stemmed from a bad trade that cost the bank $5.8 billion.