Bad loans rise at Capital One Financial

Charge-offs and delinquencies are on the rise at Capital One Financial Corp.

The McLean, Va.-based financial giant disclosed in a Securities and Exchange Commission filing Jan. 14 that it charged off nearly 11 percent more auto and credit card loans in December than in November.

Loans at least 30 days past due also increased.

In December, Capital One (NYSE: COF) charged off $453 million worth of credit card loans and $107 million worth of auto loans. International loan charge-offs rose 16 percent to $46 million.

At the end of the month, Capital One had $70.5 billion in credit card loans on its books; $21.5 billion worth of auto loans; and $8.7 billion worth of international loans. The delinquency rate for all three categories increased in December: 4.8 percent for credit cards, 9.9 percent for auto loans, and 5.5 percent for international loans.

http://www.bizjournals.com/albuquerque/stories/2009/01/12/daily35.html

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Bad loans rise at Capital One Financial