Capital One 2012 Annual Report Download - page 8

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We’ll apply a disciplined and thoughtful set of principles as we make capital allocation decisions. We’ll deploy
capital to fund growth with attractive and resilient returns, and to pay a consistent and meaningful dividend. And
we expect that our capital generation will support significant share repurchases. We’re committed to returning
capital to our shareholders through both a meaningful dividend and share repurchases.
While Capital One is well positioned, our future is not without risk. Interest rates are expected to remain low,
pressuring returns on all banks. The economic recovery remains uncertain. Consumer loan demand remains soft,
so growth opportunities are modest. Regulatory and compliance requirements are high and are likely to rise even
further. And capital requirements for larger banks continue to escalate, diminishing returns. In addition to these
industry headwinds, we expect that significant planned run-off of acquired mortgage and credit card loans will
continue to mask underlying growth where we’re investing to grow.
We’ve put Capital One in a position to deliver sustained shareholder value with a combination of businesses with
attractive returns, sure-footed execution and expense management, and disciplined capital allocation for the
benefit of our shareholders. We’re highly focused on delivering that value.
We made solid foundational progress toward
delivering a company-defining customer experience
We continued to deliver great flagship card products in 2012. Our Venture travel card, Cash rewards card, Spark
small business card, and Journey card for students have been widely recognized by the media and consumer
advocates as leading products in their segments. Our UK Card business was nominated for the Best Financial
Services Provider award by the country’s leading consumer advocate. The combination of powerful advertising,
great value, and simple, transparent products is driving growth in customers who use their credit cards as a
convenient and rewarding way to spend and transact.
Across all of our businesses, we continued to enhance the Capital One franchise by making investments to ensure
that our customers understand how to wisely and effectively use our credit, transaction, savings, and investment
products and services. And across all channels, we are improving our customer service and moving toward a more
digital experience.
2012
Capital One is a great place to work. We continue to make “best companies”
lists in the U.S., including: FORTUNE® magazine’s 100 Best Companies
to Work For, Working Mother’s 100 Best Companies for Working Mothers
and Best Companies for Hourly Workers, and DiversityInc’s Top 50
Companies for Diversity and Top 10 Companies for LGBT Employees.
FORTUNE is a registered trademark of Time Inc. and is used under license. From FORTUNE magazine, February 6, 2013 © Time Inc.
Used under license. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of, Licensee.
From Working Mother, October 2012 © Working Mother Media. All rights reserved. Used by permission and protected by the Copyright Laws of the United States.