Discover sees FY23 NIM modestly higher vs. FY22

In slides presented on its quarterly earnings conference call, Discover said it remains well-positioned to generate "resilient" returns through a range of economic environments. The company said it expects loan growth for FY23 to be in the low double digits, with operating expense up less than 10% vs. prior year. Discover also expects the full year average net charge-off rate of 3.5%-3.9% and says $2.8B remains under the current share repurchase plan authorization that expires on June 30.