Capital One Credit, Card Auto-Loan Delinquencies Fell In March

Capital One Financial Corp. (COF) said its U.S. credit-card delinquencies fell in March from February, while its international credit-card business also showed a small decline.

Capital One’s 30-day delinquency rate for U.S. credit cards fell to 3.37% last month from 3.68% in February, according to a filing with the Securities and Exchange Commission.

At its international credit-card business, the rate edged down to 4.04% from 4.07%.

Auto-loan delinquencies declined to 5.58% in March from 5.87% in February.

Charge-offs–loans banks don’t expect to be able to collect–at the U.S. card business rose to 4.69% in March from 4.27% in February. Internationally, the rate jumped to 4.86% from 4.54% a month earlier. Auto financing charge-offs were down to 1.27% from 1.59%.

Capital One reported in January its fourth-quarter earnings surged as net revenue jumped 39%, though earnings and revenue missed analysts’ expectations owing to higher loan-loss provisions and operating expenses.

Shares closed Friday at $54.66 and were inactive in recent premarket trading. The stock has dropped 11% in the past three months.
Capital One Credit, Card Auto-Loan Delinquencies Fell In March.  2013, April 15. By  Saabira Chauhuri. Retrieved from http://www.foxbusiness.com/news/2013/04/15/capital-one-credit-card-auto-loan-delinquencies-fell-in-march/.

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