ABS

Capital One Earns $376M in 4th Quarter

Published January 22, 2010 10:45 AM EST 1 Min Read

Capital One Financial Corp. reported its second straight quarterly profit.

The $169.4 billion-asset McLean, Va., company earned $375.6 million in the fourth quarter, compared to $393.5 million in the third quarter and a $1.4 billion loss a year earlier.

For 2009, Capital One earned $319.9 million, compared to a loss of $78.7 million in 2008.

The provision for loan losses fell 28.1% from the third quarter and 59.8% from a year earlier, to $843.7 million.

For reprint and licensing requests for this article, click here.

ABS

More From Asset Securitization Report

Consumer lending

Capital One, seeing a healthy consumer, leans into credit cards

CEO Richard Fairbank told analysts executives have their "microscopes" out for any signs of trouble, but consumers remain "in a great place."

By Polo Rocha

Staff Writer

American Banker

January 22

Credit cards

Capital One says credit deterioration has ‘run its course’

The stable outlook is an indication that — at least for some lenders — the much-feared cycle of cardholders defaulting on their obligations in the wake of the COVID-19 pandemic may not turn out to be so bad.

By Polo Rocha

Staff Writer

American Banker

January 26

Spreads Widen on Fannie Mae’s 4th Risk Sharing Deal

Fannie Mae priced its fourth, and largest, credit risk sharing transaction under its Connecticut Avenue Securities at much wider spreads that its previous deal, completed in May.

July 18

Consumer ABS

Capital One Still Not Accepting FHA Loans with Low Credit Scores

Capital One Financial Corp. agreed as part of its purchase of ING Direct USA to originate loans insured by the Federal Housing Administration (FHA) to borrowers with low credit scores. But five months after giving verbal assurances to the Federal Reserve and consumer groups that it would accept FHA applications with minimum FICO scores of 580, […]

February 17

Consumer ABS

A Hot Capital One Seeks to Raise $2 Billion Before Market Turns Cold

It’s 5,159 miles from Athens to McLean, Va., but for Capital One, the Greek capital — and its debt crisis — is much much closer to home. On Wednesday, the banking company surprised observers by coming to market with a $2 billion common stock offering intended to help pay for the $9 billion cash-and-stock acquisition […]

July 14