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Big banks lean into auto dealer loans amid rebound in car production

Big banks lean into auto dealer loans amid rebound in car production
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Capital One Financial beats profit estimates on higher interest income

Consumer lender Capital One Financial reported a second-quarter profit on Thursday that beat analysts estimates, helped by higher income from borrowers following a rise in benchmark lending rates. .

Pritam biswasCapital oneCapital one financialVirginia based capital one

Capital One Financial beats profit estimates on higher interest income

The U.S. Federal Reserve has aggressively hiked interest rates over the past 12 months to tackle sticky inflation, a move which has boosted profitability for consumer facing banks, allowing them to earn more from loans. Net interest income at Capital One, which is the difference between what banks earn from lending and pay out on deposits, rose 9% to $7.11 billion in the second quarter. Analysts had expected a profit of $3.23 per share, according to data from Refinitiv.

Pritam biswasCapital oneCapital one financialVirginia based capital one

Capital One Financial beats profit estimates on higher interest income

Capital One Financial beats profit estimates on higher interest income
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Pritam biswasCapital oneCapital one financialVirginia based capital one

Capital One Financial beats profit estimates on higher interest income

(Reuters) - Consumer lender Capital One Financial reported a second-quarter profit on Thursday that beat analysts estimates, helped by higher income .

Pritam biswasCapital oneCapital one financialVirginia based capital one

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