Capital One Auto releases $26M in provisions amid ‘strikingly strong’ performance

The bank took a total $563M in auto provision benefits in 2021

Signage at a Capital One cafe branch in Walnut Creek, California, U.S., on Friday, Jan. 21, 2022. Capital One Financial Corp. is scheduled to release earnings figures on January 25.

Photographer: David Paul Morris/Bloomberg

Capital One Auto Finance scaled back its allowance for credit losses in Q4 as consumer credit health remains resilient and used-vehicle values push up recovery rates. The bank released $26 million in auto-related credit loss provisions, largely due to strong used-vehicle values, Chief Executive Richard Fairbank said on the company’s earnings call Tuesday. The release […]

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