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Click on individual bank names in the table below to access American Banker's coverage of each company's earnings report. Links to relevant coverage, filings, and releases can be found in the Related Links area of each article.
January 28
Capital One Financial Corp. in McLean, Va., said Thursday that its fourth-quarter profit jumped 85%, exceeding analysts' expectations, as credit metrics improved.
The company reported net income of $697 million, or $1.52 a share, compared with $376 million, or 83 cents a share, a year earlier. Analysts, on average, expected earnings of $1.38 per share, according to Bloomberg News.
Revenue fell 1.3%, to $4 billion from the third quarter, reflecting fewer average loans and negative impacts from credit card regulation, Capital One said. The overall chargeoff rate improved 36%, or by nearly $800 million, from a year earlier.
Chargeoffs in Capital One's domestic credit card segment improved 231 basis points, to 7.28%. Consumer spending metrics improved during the fourth quarter. U.S. consumers charged nearly $27 billion on Capital One cards, up 9% from the third quarter and 10% from the second quarter.
