By Saabira Chaudhuri
Capital One Financial Corp. (COF) said its U.S. credit-card
delinquencies fell in April from March, while its international
credit-card business also showed a decline.
Capital One's 30-day delinquency rate for U.S. credit cards fell
to 3.14% in April from 3.37% the prior month, according to a filing
with the Securities and Exchange Commission.
At its international credit-card business, the rate dropped to
3.8% from 4.04%.
Auto-loan delinquencies were flat at 5.58%.
Charge-offs--loans banks don't expect to be able to collect--at
the U.S. card business fell to 4.61% in April from 4.69% in March.
Internationally, the rate jumped to 4.98% from 4.86% a month
earlier. Auto financing charge-offs were down to 1% from 1.27%.
Last month, Capital One reported its first-quarter earnings fell
24%, a year after the company recorded a $594 million gain related
to its acquisition of ING Direct USA.
Shares edged up 21 cents to $59.81 in recent light premarket
trading. The stock has risen 16% in the past 12 months.
Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com
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