Capital One 2001 Annual Report Download - page 10

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Please find page 10 of the 2001 Capital One annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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Whether you size up the market in euros, pounds or dollars, the need for
affordable convenient consumer credit is universal—and growing. For five years we
have been helping to meet that need and creating one more source of long-term
growth for Capital One. We now have relationships with several million customers in
the U.K., South Africa, Canada and France.
After only a few years in the U.K., Capital One is the country’s eighth largest
credit card issuer and is adding customers faster than any of its competitors.We have
also been recognized as one of Britain’s best employers and an outstanding
corporate citizen.
Powered by the same information-based strategy (IBS) behind our U.S. success,
Capital One’s international business grew rapidly in 2001. Loan growth was up 33%
to $4.0 billion.
Europe’s population and Gross Domestic Product exceed those of the U.S., but
the consumer credit market is relatively undeveloped (roughly half the size of the U.S.
market for consumer credit). We believe there is tremendous potential to grow our
international business.
The great flexibility of IBS enables us to
adapt products to suit cultural preferences,
lower interest rates for most consumers
and expand access to credit. By delivering
these benefits, we are winning credit card
customers overseas, and as we grow, we
expect to steadily broaden our product lines
to serve our customers’other financial needs.
Two words for those who were
impressed by last year’s growth:
déjà vu.
France
South Africa
Canada
U.K.