Charge-offs--loans banks don't expect to be able to collect--and
delinquencies have continued to recover at many financial institutions,
although the progress has been uneven.
Capital One's 30-day delinquency rate for U.S. credit cards rose to
3.37% last month from 3.09% in July, according to a filing with the
Securities and Exchange Commission.
At its international credit-card business, the rate shrank to 4.77% from
4.78% a month earlier. Auto-loan delinquencies rose to 5.79% from
5.75%.
Charge-offs at the U.S. card business fell to 2.58% in July from 2.62% a
month earlier. Internationally, the rate rose to 5.43% from 4.97% a
month earlier. Auto financing charge-offs were up at 1.84% from 1.54%.
Capital One, which transformed from a credit-card lender to a bank just
before the financial crisis hit, has lately benefited from improving
credit quality and has been working to expand through acquisitions.
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