Discover Financial's profit falls on higher loan loss provisions [Reuters]
Capital One Financial Corporation (COF)
Last capital one financial corporation earnings: 4/23 04:05 pm
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phx.corporate-ir.net/phoenix.zhtml?c=70667&p=irol-irhome
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Source: Reuters
, opens new tab on Wednesday reported a 68% drop in first-quarter profit, as the lender set aside more in rainy-day funds to cover for potential credit losses amid an uncertain economy. U.S. banks have increased their provisions for losses from bad loans as higher interest rates heighten the risk of default on mortgages and credit card debt by consumers. Discover's provision for credit losses jumped to $1.5 billion in the quarter ended March 31, from $1.1 billion in the year-ago period. During the reported quarter, Discover had agreed to be acquired by U.S. consumer bank Capital One Financial (COF.N) New Tab , opens new tab in a $35.3 billion all-stock deal, to create a global payments giant. The deal, which is expected to receive intense anti-trust scrutiny, would form the sixth-largest U.S. bank by assets and a U.S. credit card behemoth that would compete with rivals JPMorgan Chase and Citigroup (C.N) New Tab , opens new tab Discover's net income fell to $308 million,
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News
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- Capital One Reports First Quarter 2024 Net Income of $1.3 billion, or $3.13 per sharePR Newswire
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COF
Earnings
- 4/25/24 - Miss
COF
Sec Filings
- 4/30/24 - Form 144
- 4/30/24 - Form 144
- 4/25/24 - Form 8-K
- COF's page on the SEC website