Capital One 2013 Annual Report Download - page 13

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enabling us to deliver a great customer experience through the most
efficient and preferred channel. And we rigorously attracted talented
people over many years to create a workforce with the heart and intellect
to pull off amazing things every day.
The road ahead has challenges. Returns will be pressured by cyclical and
structural forces, and new capital rules will lead to higher capital requirements.
Loan growth will be challenged by the headwinds of relatively weak demand,
planned run-off, and our choice to avoid high-balance revolvers. We need to
keep a tight rein on costs. We need to continue balancing short-term financial
pressures with necessary investments in customer experience, digital,
technology, and infrastructure. And we need to make sure that our risk
management capabilities stay ahead of heightened regulatory expectations.
The Opportunity
While significant work remains and there are no guarantees, this is an
exciting time for Capital One. Years of hard work and bold choices have
positioned us to thrive, grow, and lead in a dramatically changing
environment. As industry forces collide, there is a unique opportunity
for us to challenge the industry and generate strong, sustainable
shareholder value. I wouldn’t trade places with anyone. Together with the
great people of Capital One, I look forward to continuing our quest to
bring ingenuity, simplicity, and humanity to banking, and along the
way build one of America’s great companies.
Richard D. Fairbank
Chair, Chief Executive Officer and President
2013 marked our fourth successful
year as an NCAA® Corporate Partner
and major sponsor at the Men’s
Final Four®. It was also our third
year sponsoring the Capital One
Cup, recognizing the best Division
I college athletes and programs in
the U.S., and our 13th year as
sponsor of the Capital One Bowl.
NCAA and Final Four are trademarks of the
National Collegiate Athletic Association.