Results have also revealed that the company’s Q1 2011 card sales volume has registered a 7 percent growth to USD 24 billion over Q1 2010. Also, during Q1 2011, the company’s credit card loans have grown 3 percent year-over-year (y-o-y).
Moreover, Discover’s credit performance has improved during Q1 2011, with card net charge-offs down to 5.96 percent and credit card loans over 30 days delinquent down to 3.59 percent, as compared to Q1 2010, the results have shown.
According to the results, the company’s payment services’ pre-tax income has gone up 16 percent to USD 43 million in Q1 2011 compared to the same period in 2010. In addition, transaction volume for the segment was USD 43 billion in Q1 2011, marking an increase of 21 percent over Q1 2010.
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