Capital One 2015 Annual Report Download - page 4

Chairman’s Letter
to Shareholders and Friends
Since our founding days, we’ve been on a quest to build an enduringly
great company with the scale, talent, capabilities, and financial strength
to compete and win as banking rapidly evolves. Our performance in 2015
both reflected and advanced those aspirations. We’re delivering profitable,
resilient growth while investing to generate strong and sustainable long-term
returns. We’re accelerating our efforts to transform ourselves into a leading
information-based technology company. We’re helping our customers
succeed and building a loyal customer franchise. And we’re fostering
a culture where great talent can be great.
Our Businesses Are Strong
Capital One® was founded on the belief that technology and information
could revolutionize the credit card industry. Two decades later, those
convictions continue to guide us and our domestic credit card business
is thriving. Loans grew 13.2% in 2015, well ahead of the industry average
of 3.4%. Our purchase volume growth of 18.2% also outpaced the industry
average of 7.1%. Compelling products, bold marketing, innovative digital
tools, and an exceptional customer experience are fueling our growth.
In 2015, we welcomed millions of new customers to Capital One. Our customers
are making Capital One their card of choice. We’re experiencing high
first-in-wallet rates and record low attrition. Venture® is a premier travel credit
card that offers unlimited double miles that customers can actually use.
Quicksilver® is our flagship cash-back card that pays 1.5% back on every
purchase, every day, and with no games or limits. Our Spark Business®
credit card provides savvy business owners the choice of unlimited double
miles or 2% cash back. And our Spark Business Unlimited checking account,
which offers unlimited transactions and free cash deposits, was recognized
by Money ® magazine as the best standalone business checking account
for the third consecutive year. Our simple, straightforward products are
winning with consumers.
We brought innovative digital tools to our customers in 2015. For example, we
launched our new servicing platform that provides a unified customer service
experience across mobile and web. With the launch of the Capital One WalletSM
FLAGSHIP PRODUCTS
Capital One’s clear, compelling
products are winning in the
marketplace, as millions of
consumers enjoy superior
rewards with no restrictions,
limits, or catches.
LEADING DIGITAL TOOLS
Our servicing and Wallet apps
earn rave reviews. Customers can
manage their finances and track
their spending in real time and in
ways that work for them: anywhere,
anytime, and on any device.