Capital One 2006 Annual Report Download - page 5

Download and view the complete annual report

Please find page 5 of the 2006 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.

Page out of 148

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148

3
Weacquired North Fork for $13.2 billion. That’s a lot of money—our shareholders’ money.
Our investors have been patient as we’ve transformed our company. I am committed to
making sure that our shareholders get paid for their patience. Our transformation into
abroadly diversified financial institution reduces long-term risk, provides new growth
opportunities and allows us to be more capital efficient. As a result, we are well-positioned
to deliver attractive and sustainable returns for our investors.
Our National Lending Businesses Are Delivering Strong Growth And Profits
This has been a great year for our North American consumer lending businesses. Wecontinue
to deliver strong returns in the United States and Canada, driven in part by the favorable
credit environment that we’ve enjoyed this year. Our UK business continues to struggle in
avery challenging consumer credit environment. As we look ahead, our domestic lending
businesses are well-positioned for growth as we continue to stabilize our UK franchise.
U.S. Card
Our U.S. Card business had another strong year in 2006. Jory Berson assumed the role of
president of our U.S. Card business this year,and he’s providing great leadership. Jory has
worked in virtually every area of our U.S. Card business, and he is supported by a deep
and experienced team of executives.
“We transformed
our company
this year with
the integration
of Hibernia and
the acquisition
of North Fork.”