Capital One (COF) will likely lead the top issuers in outstandings and volume year-on-year (YOY) growth in the second quarter with expected outstandings of $77.6 billion, according to forecaster RAM Research. In the first quarter COF outstandings increased by 9% YOY and purchase dollar volume (PDV) surged by 18%, according to CardData.
Capital One will report Q2/15 results on July 23 after the market close.
PDV rose 18.0% compared to 15.5% YOY gain the fourth quarter. Q1 PDV was $52.0 billion, compared to $58.2 billion in Q4/14 and $44.1 billion in Q1/14.
For Q1/15, COF reported $74.1 billion in EOP outstandings, a 9% YOY increase, compared to $77.7 billion in the prior quarter and $68.3 billion one-year ago. Average outstandings for the period increased 7% YOY to $74.8 billion.
Delinquency (30+ day) declined 10 basis points (bps) YOY and decreased 35 bps quarter-to-quarter (QOQ). The 30+ day delinquency rate ended the first quarter at 2.92%, compared to 3.27% in Q4/14 and 3.02% in Q1/14.
Charge-offs continued to climb up by 16 bps sequentially, but down 45 bps YOY. Net charge-offs are now running at 3.55%, compared to 3.39% in the prior quarter and 4.01% one-year ago.
COF U.S. Outstandings
Q1/14: $68.3 billion
Q2/14: $71.2 billion
Q3/14: $73.1 billion
Q4/14: $77.7 billion
Q1/15: $74.1 billion
Q2/15: $77.6 billion
Source: Capital One
For data, background and forecasts on Capital One: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).