CAPITAL ONE FINANCIAL CORP (COF) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2015

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Exhibit 99.1
News Release
    
Contacts:
 
 
 
Investor Relations
Media Relations
Jeff Norris
Danielle Dietz
Julie Rakes
Tatiana Stead
703.720.2455
703.720.2455
804.284.5800
703.720.2352
                        
FOR IMMEDIATE RELEASE: October 22, 2015
Capital One Reports Third Quarter 2015 Net Income of $1.1 billion,
or $1.98 per share
McLean, Va. (October 22, 2015) – Capital One Financial Corporation (NYSE: COF) today announced net income for the third quarter of 2015 of $1.1 billion, or $1.98 per diluted common share, compared to the second quarter of 2015 with net income of $863 million, or $1.50 per diluted common share, and the third quarter of 2014 with net income of $1.1 billion, or $1.86 per diluted common share. Net income for the third quarter of 2015, adjusted for the impact of a build in the U.K. Payment Protection Insurance customer refund reserve (“U.K. PPI Reserve”) of $69 million, was $1.2 billion or $2.10 per diluted common share.
“Capital One posted solid results in the third quarter, highlighted once again by strong growth in our Domestic Card business,” said Richard D. Fairbank, Chair and Chief Executive Officer. “Capital One continues to deliver attractive risk-adjusted returns today while investing to sustain growth and returns over the long-term.”
All comparisons below are for the third quarter of 2015 compared with the second quarter of 2015 unless otherwise noted.
Third Quarter 2015 Income Statement Summary:
Total net revenue increased 4 percent to $5.9 billion, including ($49) million of contra-revenue from a build in the U.K. PPI Reserve, compared to ($37) million contra-revenue in the second quarter of 2015.
Total non-interest expense decreased 4 percent to $3.2 billion:
8 percent increase in marketing.
6 percent decrease in operating expense, including $20 million build in the U.K. PPI Reserve, compared to $147 million in restructuring charges and a build of $41 million in the U.K. PPI Reserve in the second quarter of 2015.
Pre-provision earnings increased 16 percent to $2.7 billion.
Provision for credit losses decreased 3 percent to $1.1 billion.
Efficiency ratio of 53.56 percent; Efficiency ratio excluding build in the U.K. PPI Reserve of 52.78 percent.




The following information was filed by CAPITAL ONE FINANCIAL CORP on Thursday, October 22, 2015 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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  • Form Type: Quarterly
  • Number of times amended: 0
  • Accession Number: 0000927628-15-000106
  • Submitted to the SEC: Monday, November 2, 2015
  • Accepted by the SEC: Monday, November 2, 2015
  • Period Ending: September 2015
Companies
 

COF Morningstar

CAPITAL ONE FINANCIAL CORP

$92.61 -0.80 (-0.86%)

Day's Range:
$91.77 to $92.80

52-Week Range:
$58.03 to $93.57

Volume:
2,252,300

Volume (Avg):
2,819,390

Earnings per Share:
$6.89

PEG / Short / PE Ratios:
1.38 / 4.60 / 13.44

Market Cap:
$44.78B

Book Value:
98.27

EBITDA:
$0.00