Steady Loan Numbers for Cap One in April

Losses and delinquencies generally held steady in April in the credit card and auto loan portfolios of Capital One Financial Corp., (NYSE: COF) according to its monthly filing with the U.S. Securities and Exchange Commission.

The McLean, Va.-based bank reported yesterday its credit card portfolio saw its annualized net charge off rate climb slightly in April to 6.08 percent from 6.07 percent in March. The 30-day delinquency rate in April fell to 3.90 percent from 4.04 percent in March.

The credit card portfolio recorded receivables of nearly $67.9 billion at the end of April, up from $67.4 billion in the previous month.

In January, credit card charge offs were at a 5.98 percent annualized rate, and 30-day delinquencies were at a 4.36 percent rate. In January the portfolio held receivables of $69.1 billion.

Cap One’s auto loan portfolio had outstanding loans of $24.4 billion at the end of April, compared with $24.6 billion in March. The annualized net charge off rate in April was 3.49 percent, down from 4.09 percent in April. The 30-day delinquency rate at April’s end was 6.90 percent, compared with 6.42 percent in March.

In January, the auto loan group reported annualized charge offs of 4.00 percent, 30-day delinquencies of 7.42 percent, and period end loans of nearly $25.2 billion.