Capital One card segment bad loan rate rises to 6.34% vs 5.96%

Capital One Financial Corporation,( 38.70, +0.94, +2.5%) said Wednesday that its net charge-offs, or the rate of bad loans, rose to 6.34% in September from 5.96% in August in the U.S. card segment.

The rate of bad loans in the U.S. card segment was down in August from 6.08% in July.
The McLean, Va., credit-card issuer and bank said delinquencies in the U.S. card segment, including the domestic credit-card business, small-business lending and installment-loan business, rose to 4.2% from 4.07% in August.

Capital One's net charge-offs in the auto-finance segment fell to 4.98% from 5.35% in August. Delinquencies in the auto-finance segment rose to 9.32% from 8.84% in the month-ago period, according to a filing with the Securities and Exchange Commission.
Net charge-offs in the international business rose to 5.87% in September from 5.31% in August. Delinquencies in the international business were 5.24% compared with 5.15% in the previous month.
Capital One shares closed at $44.47, up 12%.

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