Connect to share and comment

Capital One profit rises 2 percent

PlacardEnlarge
(Globalpost/GlobalPost)

(Reuters) - Capital One Financial Corp, one of the largest credit card issuers in the United States, reported a 2 percent rise in quarterly profit as it set aside less provisions to cover credit losses.

Net income rose to $859 million, or $1.45 per share, for the fourth quarter ended December 31, from $843 million, or $1.41 per share, a year earlier.

Total net revenue fell 1.4 percent to $5.54 billion.

(Reporting by Avik Das in Bangalore; Editing by Joyjeet Das)

http://www.globalpost.com/dispatch/news/thomson-reuters/140116/capital-one-profit-rises-2-percent