![]() The conference call will be accessible through live webcast. The company will hold an earnings conference call on Apat 5:00 PM Eastern Time. Management believes that this financial metric is useful in enabling investors and others to assess the Company's ability to generate income to cover credit losses through a credit cycle, which can vary significantly between periods.Įarnings Conference Call Webcast Information Pre-provision earnings is calculated based on the sum of net interest income and non-interest income, less non-interest expense for the period. Interest-bearing deposits rate paid decreased 12 basis points to 0.39 percent.Period-end total deposits increased $4.9 billion, or 2 percent, to $310.3 billion, while average deposits increased $543 million, or less than 1 percent, to $305.1 billion.Commercial Banking average loans decreased $1.2 billion, or 2 percent, to $74.2 billion.Auto average loans increased $595 million, or 1 percent, to $66.2 billion.Consumer Banking average loans increased $426 million, or 1 percent, to $69.2 billion.Domestic Card average loans decreased $2.9 billion, or 3 percent, to $92.6 billion.Credit Card average loans decreased $3.0 billion, or 3 percent, to $100.5 billion.Average loans held for investment in the quarter decreased $3.8 billion, or 2 percent, to $243.9 billion.Commercial Banking period-end loans decreased $2.0 billion, or 3 percent, to $73.8 billion.Auto period-end loans increased $1.3 billion, or 2 percent, to $67.1 billion.Consumer Banking period-end loans increased $1.3 billion, or 2 percent, to $70.2 billion.Domestic Card period-end loans decreased $7.4 billion, or 8 percent, to $91.1 billion.Credit Card period-end loans decreased $7.8 billion, or 7 percent, to $99.1 billion.Period-end loans held for investment in the quarter decreased $8.5 billion, or 3 percent, to $243.1 billion.Common equity Tier 1 capital ratio under Basel III Standardized Approach of 14.6 percent at March 31, 2021.Operating efficiency ratio of 45.54 percent.įirst Quarter 2021 Balance Sheet Summary:. ![]() Net interest margin of 5.99 percent, an decrease of 6 basis points.Provision for credit losses decreased $1.1 billion to $(823) million:.Pre-provision earnings increased 1 percent to $3.4 billion (1).6 percent decrease in operating expenses. ![]() Total non-interest expense decreased 7 percent to $3.7 billion:.Total net revenue decreased 3 percent to $7.1 billion.As of December 31, 2022, the company had loans receivable of $114 billion from credit cards, $75 billion from auto loans, and $85 billion from commercial loans.(Dollars in millions, except per share data)Īll comparisons below are for the first quarter of 2021 compared with the fourth quarter of 2020 unless otherwise noted.įirst Quarter 2021 Income Statement Summary: The company's three divisions are credit cards, consumer banking and commercial banking. The company helped pioneer the mass marketing of credit cards in the 1990s. It is ranked 106th on the Fortune 500, 15th on Fortune's 100 Best Companies to Work For list, and conducts business in the United States, Canada, and the United Kingdom. The bank has approximately 750 branches, including 30 café style locations, and 2,000 ATMs. ![]() It is on the list of largest banks in the United States, is the third largest issuer of Visa and Mastercard credit cards and is one of the largest car finance companies in the United States. Capital One Financial Corporation is an American bank holding company specializing in credit cards, auto loans, banking, and savings accounts, headquartered in McLean, Virginia with operations primarily in the United States.
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