Capital One’s (COF) international (mostly U.K.) credit card purchase dollar volume (PDV) soared 24.5% year-on-year (YOY) not currency adjusted (FX), while net income increased 3.2% YOY in the fourth quarter (4Q/15).
Outstandings, not FX, were flat YOY in 4Q/15 at $8.2 billion, but up 2.5% quarter-to-quarter (QTQ).
For 4Q/15, COF reported $6.6 billion in international credit card PDV, (not FX), compared to $6.1 billion in the prior quarter and $5.3 billion for the year ago quarter.
Early stage delinquency (30+ days) inched upward by 7 bps QTQ to 3.46% for the fourth quarter, from 3.39% for the third quarter, but down 14 bps YOY from 3.60% in the year-ago quarter
Charge-offs exploded upward by 96 bps QTQ to 2.76% for 4Q/15, compared to 1.80% for 3Q/15. However, charge-offs are down 58 bps YOY from 3.34% in 4Q/14.
COF INTL P/L
4Q/14: $338 million
1Q/15: $318 million
2Q/15: $287 million
3Q/15: $297 million
4Q/15: $350 million
COF INTL PDV
4Q/14: $5.3 billion
1Q/15: $5.4 billion
2Q/15: $6.4 billion
3Q/15: $6.1 billion
4Q/15: $6.6 billion
COF INTL OUTSTANDINGS
4Q/14: $8.2 billion
1Q/15: $7.6 billion
2Q/15: $8.2 billion
3Q/15: $8.0 billion
4Q/15: $8.2 billion
COF INTL 30+ DELINQUENCY
4Q/14: 3.60%
1Q/15: 3.44%
2Q/15: 3.29%
3Q/15: 3.39%
4Q/15: 3.46%
COF CHARGE-OFFS
4Q/14: 3.34%
1Q/15: 2.80%
2Q/15: 2.65%
3Q/15: 1.80%
4Q/15: 2.76%
Source: Capital One
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