Bread Financial (BFH) reported declines in loan losses and late payments in August compared to the previous year.

The financial services firm registered a net principal loss rate of 6.40% for the month, down from 7.57% a year earlier, while total net principal losses dropped to $101 million from $113 million.

Bread Financial also reported that the 30-day delinquency rate dropped to 5.36% in August from 5.84% a year earlier, with delinquent principal falling to $885 million from $934 million.

Meanwhile, average credit card and other loan balances rose 5.6% from $17.60 billion a year earlier to $18.59 billion.

End-of-period credit card and other loans stood at $18.73 billion, up from $17.66 billion a year earlier.