Capital One’s (COF) international credit card business profits collapsed over the past year, falling by 48% from fourth quarter 2013. However, Purchase Dollar Volume (PDV) rose 36% to $5.3 billion, compared to $3.9 billion one-year ago.
COF’s end-of-period (EOP) international credit card (Canada and UK) outstandings rose to $8.2 billion in Q4/2014, compared to $7.5 billion in the third quarter of 2014 and $8.1 billion in the fourth quarter of 2013. On a percentage basis, COF International credit card outstandings increased 2% year-on-year.
However, fourth quarter international delinquency (30+ day) declined significantly to 2.94%, compared to 3.34% in the prior quarter and 3.71% in the year ago quarter.
International charge-offs also declined sharply from 4.74% one-year ago to 3.34% in Q4/14 and 3.32% in the prior quarter.
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