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More on Discover results

  • Direct banking pretax income of $994M off 4% Y/Y. Total loans of $63.8B up 6%. Credit card loans of $50.9B up 5%.
  • Net interest income up 11% Y/Y, with NIM of 9.88% up 49 basis points.
  • Delinquency rate for cards over 30 days past due of 1.72% is down 5 bps from a year ago. Provision for loan losses of $270M up $111M from a year ago amid a reserve release of just $59M this year vs. $154M last year.
  • About 5.5M shares repurchased during Q for $305M, roughly inline with Q4's buyback.
  • CC at 5 ET
  • Press release, Q1 results
  • DFS no trades AH
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