Reported about 7 hours ago
Capital One Financial reported a 60% increase in fourth-quarter profits, benefiting from higher interest income amid strong consumer spending and a favorable economic outlook. The company's net interest income rose by nearly 8% to approximately $8.1 billion, driven by its significant credit card business. Additionally, provisions for credit losses decreased year-over-year, while non-interest income grew by 5%. Despite facing a lawsuit from the U.S. Consumer Financial Protection Bureau, Capital One's net income for the quarter reached $1.02 billion.
Source: YAHOO