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
DFS no trades AH