Capital One 2009 Annual Report Download - page 5
Download and view the complete annual report
Please find page 5 of the 2009 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.-
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
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
 |
 |
rates are at the low end of major issuers. We strengthened our relationships with the best
auto dealers by standing behind them when they needed us most. And we continued to
offer big-bank capabilities with a local feel, with highly rated commercial banking service and
innovative new products such as Rewards Checking (which gives our customers rewards when
they sign, swipe, or click to make a banking transaction).
With our powerful marketing, we continued to
build loyalty with our more than 33 million
customers. Capital One’s national advertising is
still cutting through the clutter, with awareness
and branding scores well above the norm for
financial services ads. We also introduced our
well-known Visigoth banking ads – the highest
scoring in our history – to our local markets.
And we maintained our long-standing
commitment to college sports, including our
sponsorship of ESPN Bowl Week and the
highly rated Capital One Bowl.
As we begin 2010, I like our position. But
we continue to face sizeable risks. Substantial
legislative and regulatory uncertainty remains,
including decisions on further financial regulatory
reform and the final interpretation of certain
parts of the CARD Act. There is some evidence
that the economy is stabilizing, but there are
no assurances and any recovery is likely to be
gradual. Unemployment remains stubbornly high. Credit losses remain elevated. Home prices have
yet to recover, and we will need to diligently manage the troubled mortgage portfolios from
our bank acquisitions and the potential liability associated with repurchase demands. Finally, the
commercial real estate and mortgage markets will continue to face credit headwinds.
We also have plenty of unfinished work ahead of us. A significant investment is required to build
a top ten bank infrastructure, which we need to fully deliver on our banking potential. We also will
need to invest hundreds of millions of marketing dollars to reignite growth as the credit environment
improves. While we believe these investments will generate high returns, the payback will take some
time. We must also create a scaleable mortgage infrastructure to support our existing operations
and accommodate the future growth of our in-footprint mortgage business.
Our highly rated TV ads continue to drive home the
great value and convenience Capital One delivers to
our customers.
FREE
Checking
With
REWARDS
4