Capital One: US Credit Card Delinquencies Decline In April

Date : 05/15/2012 @ 9:04AM
Source : Dow Jones News
Stock : Capital One Financial Corp. (COF)
Quote : 84.7476  2.0776 (2.51%) @ 10:52AM

Capital One: US Credit Card Delinquencies Decline In April

Capital One (NYSE:COF)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more Capital One Charts.

Capital One Financial Corp. (COF) said delinquencies at its U.S. credit-card business continued to fall in April from the month earlier, though charge-offs increased.

While charge-offs--loans banks don't expect to be able to collect--and delinquencies have continued to recover at many financial institutions, the progress has been uneven.

Capital One's 30-day delinquency rate for U.S. credit cards fell to 3.18% last month from 3.25% in March, according to a filing with the Securities and Exchange Commission.

At its international credit-card business, the rate decreased to 5.01% from 5.14% a month earlier. Auto-loan delinquencies rose to 5.39% from 5.13%.

Charge-offs at the U.S. card business rose to 4.07% in April from 3.85% a month earlier. Internationally, the rate rose to 6% from 5.5% a month earlier. Auto financing charge-offs were down at 0.8% from 0.81%.

Capital One, which transformed from a credit-card lender to a bank just before the financial crisis hit, has lately benefited from improving credit quality and has been working to expand through acquisitions.

Shares closed Monday at $52.31 and were inactive premarket. The stock is up 24% since the start of the year.

-By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com




Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.