Credomatic’s credit card businesses and banking operations in the Central American countries, with the exception of Panama, CIC is positioned to have one of the strongest financial franchises in the region. The group is a leader in the credit card business, while having a dominant market share in the acquiring and issuing businesses.
A recent survey shows more than half of parents with students in grades K-12 are likely to set a budget for back-to-school expenses. College students are focused on items they need – 83% plan to reuse where possible and replenish essentials, and 63% will refer to last year’s spending as a guideline.
Visa’s profits are soaring and the deal to acquire Visa Europe looks like it will happen by the end of the year. Second quarter adjusted net income jumped 33% year-on-year (YOY) to $1.8 billion. Visa says it is targeting to resolve these Visa Europe discussions by the end of October.
Discover’s credit card outstandings continued strong in the second quarter rising 4.2% as Purchase Dollar Volume (PDV) rose 2.4%, year-on-year (YOY). While all other credit card metrics remained stable, overall net income for Q2/15 declined 7.0% YOY to $699 million.
American Express second quarter profits slipped year-on-year (YOY) by 3.9% to $1.47 billion due to the significant impact of a stronger U.S. dollar on international operations. However, U.S. Card Services posted Q2/15 net income of $886 million, up 15% from $770 million a year ago.