Morgan Stanley Dean Witter reported record first quarter net income of $1.5 billion, up 49% from the previous year, with record net revenues of $7.4 billion. Earnings per share were up 52% to $1.34. The Securities division achieved net income of $1.24 billion, up 54%, driven by record results in equities trading, investment banking, and asset management. Asset Management reported a 48% increase in net income to $158 million, with record assets under management of $455 billion. Credit Services net income was up 15% to $142 million, with record transaction volumes and consumer loan balances.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
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1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
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**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.
morgan stanley Earnings2000 1st Archive
1. MORGAN STANLEY DEAN WITTER ANNOUNCES
FIRST QUARTER NET INCOME OF $1.5 BILLION;
RECORD NET REVENUES OF $7.4 BILLION;
EARNINGS PER SHARE UP 52%
NEW YORK, March 23, 2000 -- Morgan Stanley Dean Witter & Co. (NYSE: MWD)
today reported net income of $1,544 million for the quarter ended February 29, 2000
-- a 49 percent increase from $1,037 million in last year’s first quarter. Diluted
earnings per share were $1.34 -- up 52 percent from $0.88 a year ago.
First quarter net revenues (total revenues less interest expense and the provision
for loan losses) increased to a record $7.4 billion -- 39 percent higher than last year.
The annualized return on average common equity for the quarter was 36.3 percent.
Philip J. Purcell, Chairman, and John J. Mack, President, said in a joint statement,
“Our growth continues. We had a record quarter in net revenues and our earnings
have more than doubled in the last two years. We continue to benefit from the
strength and diversity of our revenue streams, with record results in equity sales
and trading, individual securities and asset management. We also had another
outstanding quarter in investment banking, and we achieved a record level of
Discover Card receivables.”
SECURITIES
The Company’s Securities business posted net income of $1,244 million, a 54
percent increase from the first quarter of 1999. The increase reflects outstanding
results in all of the Company’s securities businesses.
• The quarter marked a new high for institutional securities, with record revenues
in equities and commodities and outstanding quarters in both investment
banking and fixed income. Institutional securities continued to benefit from its
strong global presence.
2. • Equities’ results were driven by record trading volumes and increased market
volatility, with an unprecedented level of investor interest in the technology
and telecommunications sectors. Fixed income achieved strong results, despite
Y2K-related volume decreases early in the quarter, as it capitalized on end of
quarter volatility in U.S. treasury markets and increased customer activity.
Commodities benefited from the continuing rise in energy prices, as both crude
oil and heating oil reached nine-year highs.
• Investment banking had another outstanding quarter. Record revenues in
equity underwriting reflected the robust markets in technology and
telecommunications. Strong results in mergers and acquisitions were buoyed
by the recent trends of convergence in the media and technology/internet
sectors, and consolidation in telecommunications. For the first two months of
calendar 2000, the Company ranked first in global M&A; first in North America
and second worldwide in equity and equity-related underwritings; and
maintained a leadership position in U.S. investment grade debt underwriting.1
• The private client group also reported record first quarter results, driven by
record volumes in listed and over-the-counter equity markets, strong sales of
new issues, and higher revenues from the distribution of asset management
products. The private client group’s sales of asset management products rose
to a new high during the quarter.
• The number of global financial advisors in the Company’s private client group
rose to 13,072 -- an increase of 398 for the quarter and 1,619 over the last twelve
months. Total client assets of $682 billion were more than $200 billion higher
than a year ago.
• The private equity group recognized record quarterly investment gains of $271
million compared with $191 million a year ago. These results included gains on
private equity’s holdings in Commerce One and Allegiance Telecom.
1
Source: Securities Data Corp. – Jan 1 to February 29, 2000.
2
3. ASSET MANAGEMENT
Asset Management’s first quarter net income increased 48 percent over a year ago
to a record $158 million. The increase reflects substantial growth in the Company’s
assets under management -- driven by strong performance especially in its
technology-related and equity growth products.
• The Company’s assets under management increased $70 billion, or 18 percent,
over last year to a record $455 billion.
• Retail assets increased $34 billion during the quarter and $65 billion from a year
ago -- to stand at $292 billion. Institutional assets decreased $4 billion during
the quarter but were up $5 billion compared to last year -- to stand at $163
billion.
• The asset management business benefited from strong investment performance.
Mutual Funds Magazine named the Company’s Miller Anderson & Sherrerd
Small Cap Growth fund 1999’s “Fund of the Year”. It also recognized the
MSDW American Opportunities fund and the Van Kampen Emerging Growth
fund as two of its “Funds of the Decade”.
• The Company’s new MSDW 21st Century Trend fund raised more than $570
million during the first quarter.
• Unit Investment Trust sales rose to a record $6.1 billion, approximately double
the sales in the first quarter of last year.
CREDIT SERVICES
Credit Services net income increased by 15 percent to $142 million compared to
$124 million in the first quarter of 1999 -- reflecting record transaction volume and
consumer loan balances, and continued improvement in credit quality.
3
4. • Merchant and Cardmember fees increased 24 percent from a year ago to $585
million. Transaction volume increased 52 percent to a record $23.5 billion,
driven by higher sales volume and balance transfers.
• Managed consumer loans rose to a record $42.0 billion, an increase of $10
billion, or 31 percent, from a year ago.
• The consumer loan net charge-off rate declined to 4.66 percent this quarter
from 6.28 percent last year. The over-30-day delinquency rate was 5.57
percent, compared to 7.08 percent a year ago.
• New cardmember accounts of 1.7 million were more than 150 percent higher
than last year’s first quarter total.
• Discover Card’s registered Internet accounts increased by 900,000 from the
first quarter of last year to reach a total of 1.4 million.
• Transaction volume and consumer loan growth for the Morgan Stanley Dean
Witter international credit card, launched last year in the U.K., continued to
exceed the Company’s expectations.
The Company has repurchased approximately 14 million shares of its common
stock since the end of fiscal 1999. The Company also announced that its Board of
Directors declared a $.20 quarterly dividend per common share. The dividend is
payable on April 28, 2000 to common shareholders of record on April 14, 2000.
Total capital at February 29, 2000 was $43.5 billion, including $18.3 billion of
common and preferred stockholders’ equity and preferred securities issued by
subsidiaries. Book value per common share was $15.31, based on quarter-end
shares outstanding of 1.1 billion.
Morgan Stanley Dean Witter & Co. is a global financial services firm and a market
leader in securities, asset management, and credit services. The Company has
4
5. offices in New York, London, Tokyo, Hong Kong, and other principal financial
centers around the world and has 488 securities branch offices throughout the United
States.
This release may contain forward-looking statements. These statements, which
reflect management’s beliefs and expectations, are subject to risks and uncertainties
that may cause actual results to differ materially. For a discussion of the risks and
uncertainties that may affect the Company’s future results, please see
“Management’s Discussion and Analysis of Financial Condition and Results of
Operations” in the Company’s 1999 Annual Report to Shareholders.
5
6. MORGAN STANLEY DEAN WITTER & CO.
Financial Summary
(unaudited, dollars in millions)
Quarter Ended Percentage Change From:
Feb 29, 2000 Feb 28, 1999 Nov 30, 1999 Feb 28, 1999 Nov 30, 1999
Net revenues
$ 5,922 $ 4,078 $ 4,125 45% 44%
Securities
600 509 545 18% 10%
Asset Management
889 752 963 18% (8%)
Credit Services
Consolidated net revenues $ 7,411 $ 5,339 $ 5,633 39% 32%
Net income
$ 1,244 $ 806 $ 1,395 54% (11%)
Securities
158 107 113 48% 40%
Asset Management
142 124 125 15% 14%
Credit Services
Consolidated net income $ 1,544 $ 1,037 $ 1,633 49% (5%)
Preferred stock dividend requirements $ 9 $ 11 $ 11 (18%) (18%)
Earnings applicable to common shares $ 1,535 $ 1,026 $ 1,622 50% (5%)
Earnings per common share
$ 1.40 $ 0.93 $ 1.50 51% (7%)
Basic
$ 1.34 $ 0.88 $ 1.42 52% (6%)
Diluted
Average common shares outstanding
1,093,904,751 1,107,871,156 1,079,522,844
Basic
1,146,854,036 1,169,186,312 1,142,086,246
Diluted
1,134,181,285 1,141,179,340 1,104,630,098
Period end common shares outstanding
36.3% 29.5% 43.1%
Return on common equity
Note: Certain reclassifications have been made to prior period amounts to conform to the current presentation.
F-1
7. MORGAN STANLEY DEAN WITTER & CO.
Consolidated Income Statement Information
(unaudited, dollars in millions)
Quarter Ended Percentage Change From:
Feb 29, 2000 Feb 28, 1999 Nov 30, 1999 Feb 28, 1999 Nov 30, 1999
Investment banking $ 1,335 $ 957 $ 1,338 39% --
Principal transactions:
Trading 2,277 1,659 1,138 37% 100%
Investments 431 265 232 63% 86%
Commissions 1,037 653 785 59% 32%
Fees:
Asset management, distribution and administration 910 729 830 25% 10%
Merchant and cardmember 443 341 402 30% 10%
Servicing 287 253 318 13% (10%)
Interest and dividends 4,797 3,763 3,848 27% 25%
Other 97 56 74 73% 31%
Total revenues 11,614 8,676 8,965 34% 30%
Interest expense 3,980 3,160 3,212 26% 24%
Provision for consumer loan losses 223 177 120 26% 86%
Net revenues 7,411 5,339 5,633 39% 32%
Compensation and benefits 3,408 2,363 1,320 44% 158%
Occupancy and equipment 175 146 178 20% (2%)
Brokerage, clearing and exchange fees 121 114 116 6% 4%
Information processing and communications 346 309 376 12% (8%)
Marketing and business development 471 395 495 19% (5%)
Professional services 183 162 269 13% (32%)
Other 275 178 244 54% 13%
Total non-interest expenses 4,979 3,667 2,998 36% 66%
Income before income taxes 2,432 1,672 2,635 45% (8%)
Income tax expense 888 635 1,002 40% (11%)
Net income $ 1,544 $ 1,037 $ 1,633 49% (5%)
Preferred stock dividend requirements $ 9 $ 11 $ 11 (18%) (18%)
Earnings applicable to common shares $ 1,535 $ 1,026 $ 1,622 50% (5%)
Compensation and benefits as a % of net revenues 46% 44% 23%
Note: Certain reclassifications have been made to prior period amounts to conform to the current presentation.
F-2
8. MORGAN STANLEY DEAN WITTER & CO.
Securities Income Statement Information
(unaudited, dollars in millions)
Quarter Ended Percentage Change From:
Feb 29, 2000 Feb 28, 1999 Nov 30, 1999 Feb 28, 1999 Nov 30, 1999
$ 1,291 $ 934 $ 1,315 38% (2%)
Investment banking
Principal transactions:
2,277 1,659 1,138 37% 100%
Trading
423 261 227 62% 86%
Investments
1,028 653 777 57% 32%
Commissions
387 277 336 40% 15%
Asset management, distribution and administration fees
4,051 3,180 3,211 27% 26%
Interest and dividends
94 51 74 84% 27%
Other
9,551 7,015 7,078 36% 35%
Total revenues
3,629 2,937 2,953 24% 23%
Interest expense
5,922 4,078 4,125 45% 44%
Net revenues
3,067 2,088 1,000 47% 207%
Compensation and benefits
140 110 139 27% 1%
Occupancy and equipment
102 84 99 21% 3%
Brokerage, clearing and exchange fees
214 171 220 25% (3%)
Information processing and communications
157 116 137 35% 15%
Marketing and business development
136 111 182 23% (25%)
Professional services
174 105 144 66% 21%
Other
3,990 2,785 1,921 43% 108%
Total non-interest expenses
1,932 1,293 2,204 49% (12%)
Income before income taxes
688 487 809 41% (15%)
Income tax expense
Net income $ 1,244 $ 806 $ 1,395 54% (11%)
52% 51% 24%
Compensation and benefits as a % of net revenues
16% 17% 22%
Non-compensation expenses as a % of net revenues
21% 20% 34%
Profit margin (1)
(1) Net income as a % of net revenues.
F-3
9. MORGAN STANLEY DEAN WITTER & CO.
Asset Management Income Statement Information
(unaudited, dollars in millions)
Quarter Ended Percentage Change From:
Feb 29, 2000 Feb 28, 1999 Nov 30, 1999 Feb 28, 1999 Nov 30, 1999
$ 44 $ 23 $ 23 91% 91%
Investment banking
Principal transactions:
8 4 5 100% 60%
Investments
9 0 8 * 13%
Commissions
523 452 494 16% 6%
Asset management, distribution and administration fees
13 27 15 (52%) (13%)
Interest and dividends
3 5 0 (40%) *
Other
600 511 545 17% 10%
Total revenues
0 2 0 * --
Interest expense
600 509 545 18% 10%
Net revenues
186 156 169 19% 10%
Compensation and benefits
21 24 25 (13%) (16%)
Occupancy and equipment
19 30 17 (37%) 12%
Brokerage, clearing and exchange fees
18 21 28 (14%) (36%)
Information processing and communications
36 33 30 9% 20%
Marketing and business development
21 30 48 (30%) (56%)
Professional services
31 31 35 -- (11%)
Other
332 325 352 2% (6%)
Total non-interest expenses
268 184 193 46% 39%
Income before income taxes
110 77 80 43% 38%
Income tax expense
Net income $ 158 $ 107 $ 113 48% 40%
31% 31% 31%
Compensation and benefits as a % of net revenues
24% 33% 34%
Non-compensation expenses as a % of net revenues
26% 21% 21%
Profit margin (1)
(1) Net income as a % of net revenues.
F-4
10. MORGAN STANLEY DEAN WITTER & CO.
Credit Services Income Statement Information
(unaudited, dollars in millions)
Quarter Ended Percentage Change From:
Feb 29, 2000 Feb 28, 1999 Nov 30, 1999 Feb 28, 1999 Nov 30, 1999
Fees:
$ 443 $ 341 $ 402 30% 10%
Merchant and cardmember
287 253 318 13% (10%)
Servicing
730 594 720 23% 1%
Total non-interest revenues
733 556 622 32% 18%
Interest revenue
351 221 259 59% 36%
Interest expense
382 335 363 14% 5%
Net interest income
223 177 120 26% 86%
Provision for consumer loan losses
159 158 243 1% (35%)
Net credit income
889 752 963 18% (8%)
Net revenues
155 119 151 30% 3%
Compensation and benefits
14 12 14 17% --
Occupancy and equipment
114 117 128 (3%) (11%)
Information processing and communications
278 246 328 13% (15%)
Marketing and business development
26 21 39 24% (33%)
Professional services
70 42 65 67% 8%
Other
657 557 725 18% (9%)
Total non-interest expenses
232 195 238 19% (3%)
Income before income taxes
90 71 113 27% (20%)
Income tax expense
Net income $ 142 $ 124 $ 125 15% 14%
17% 16% 16%
Compensation and benefits as a % of net revenues
56% 58% 60%
Non-compensation expenses as a % of net revenues
16% 16% 13%
Profit margin (1)
(1) Net income as a % of net revenues.
F-5
11. MORGAN STANLEY DEAN WITTER & CO.
Credit Services Income Statement Information
(unaudited, dollars in millions)
(Managed loan basis)
Quarter Ended Percentage Change From:
Feb 29, 2000 Feb 28, 1999 Nov 30, 1999 Feb 28, 1999 Nov 30, 1999
Fees:
$ 585 $ 473 $ 536 24% 9%
Merchant and cardmember
0 0 0 -- --
Servicing
585 473 536 24% 9%
Total non-interest revenues
1,440 1,181 1,288 22% 12%
Interest revenue
646 451 511 43% 26%
Interest expense
794 730 777 9% 2%
Net interest income
490 451 350 9% 40%
Provision for consumer loan losses
304 279 427 9% (29%)
Net credit income
889 752 963 18% (8%)
Net revenues
155 119 151 30% 3%
Compensation and benefits
14 12 14 17% --
Occupancy and equipment
114 117 128 (3%) (11%)
Information processing and communications
278 246 328 13% (15%)
Marketing and business development
26 21 39 24% (33%)
Professional services
70 42 65 67% 8%
Other
657 557 725 18% (9%)
Total non-interest expenses
232 195 238 19% (3%)
Income before income taxes
90 71 113 27% (20%)
Income tax expense
Net income $ 142 $ 124 $ 125 15% 14%
17% 16% 16%
Compensation and benefits as a % of net revenues
56% 58% 60%
Non-compensation expenses as a % of net revenues
16% 16% 13%
Profit margin (1)
(1) Net income as a % of net revenues.
F-6
12. MORGAN STANLEY DEAN WITTER & CO.
Financial Information and Statistical Data
(unaudited)
Quarter Ended Percentage Change From:
Feb 29, 2000 Feb 28, 1999 Nov 30, 1999 Feb 28, 1999 Nov 30, 1999
MSDW
Period end common shares outstanding 1,134,181,285 1,141,179,340 1,104,630,098 (1%) 3%
Book value per common share $ 15.31 $ 12.46 $ 14.85 23% 3%
Shareholders' equity (millions) (1) $ 18,252 $ 15,237 $ 17,414 20% 5%
Total capital (millions) (2) $ 43,540 $ 39,388 $ 39,699 11% 10%
SECURITIES ($ billions)
Private Client Group
Global financial advisors 13,072 11,453 12,674 14% 3%
Client assets $ 682 $ 475 $ 583 44% 17%
Institutional Securities (3)
Mergers and acquisitions announced transactions (4)
MSDW global market volume $ 423.6 $ 109.7 $ 1,073.4
Rank 1 2 2
Worldwide equity and related issues (4)
MSDW global market volume $ 13.1 $ 10.5 $ 53.4
Rank 2 1 2
ASSET MANAGEMENT ($ billions)
Assets under management or supervision
Products offered primarily to individuals
Mutual funds
Equity $ 115 $ 77 $ 94 49% 22%
Fixed income 51 56 53 (9%) (4%)
Money markets 51 41 47 24% 9%
Total mutual funds 217 174 194 25% 12%
ICS Assets 27 20 23 35% 17%
Other 48 33 41 45% 17%
Sub-total Individual 292 227 258 29% 13%
Products offered primarily to institutional clients
Mutual funds 41 34 39 21% 5%
Separate accounts, pooled vehicle and other arrangements 122 124 128 (2%) (5%)
Sub-total Institutional 163 158 167 3% (2%)
Total assets under management or supervision $ 455 $ 385 $ 425 18% 7%
(1) Includes preferred and common equity and preferred securities issued by subsidiaries.
(2) Includes preferred and common equity, preferred securities issued by subsidiaries, capital units and non-current portion of long-term debt.
(3) Source: Securities Data Corp.
(4) Information is year to date and stated on a calendar year basis.
F-7
13. MORGAN STANLEY DEAN WITTER & CO.
Financial Information and Statistical Data
(unaudited, dollars in millions)
Quarter Ended Percentage Change From:
Feb 29, 2000 Feb 28, 1999 Nov 30, 1999 Feb 28, 1999 Nov 30, 1999
CREDIT SERVICES
Owned consumer loans
$ 23,757 $ 15,529 $ 20,998 53% 13%
Period end
$ 23,191 $ 16,420 $ 18,341 41% 26%
Average
Managed consumer loans (1)
$ 41,988 $ 32,134 $ 37,975 31% 11%
Period end
$ 41,023 $ 32,900 $ 35,608 25% 15%
Average
13.35% 14.06% 14.15% (0.71 pp) (0.80 pp)
Interest yield
7.03% 8.41% 8.22% (1.38 pp) (1.19 pp)
Interest spread
4.66% 6.28% 4.63% (1.62 pp) 0.03 pp
Net charge-off rate
5.57% 7.08% 6.32% (1.51 pp) (0.75 pp)
Delinquency rate (over 30 days)
Credit Card
$ 23.5 $ 15.5 $ 20.5 52% 15%
Transaction volume (in billions)
39.2 36.9 38.5 6% 2%
Accounts (in millions)
22.8 20.8 22.1 10% 3%
Active accounts (in millions)
$ 1,816 $ 1,553 $ 1,654 17% 10%
Average receivables per average active account (actual $)
99 97 233 2% (58%)
Discover/NOVUS Network increase in merchant locations (in thousands)
(1) Includes owned and securitized consumer loans.
F-8