Capital One 2015 Annual Report Download - page 6

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on the key drivers of sustained success: simple and compelling products,
disciplined underwriting, great digital marketing, and an exceptional
customer experience.
Our consumer banking business, which includes auto finance, home
loans, and retail banking, delivered net income of $1.03 billion in 2015.
The business is poised for a more digital future. Auto finance continued
to deliver strong originations and returns and introduced Auto Navigator®
and Dealer NavigatorSM, two innovative digital tools that enable a dynamic
end-to-end car shopping and financing experience. The retail bank is
combining capabilities from our digital and branch banking businesses to
lead our branch transformation and to create and test Capital One Cafés
in attractive markets such as Boston, New York, and San Francisco.
We continued to help our commercial clients grow their businesses and invest
for the future. Commercial banking net income was $570 million in 2015.
Credit performance remained strong for the majority of our commercial
businesses, although credit pressures continued in the energy portfolio.
As part of our specialty strategy, the commercial bank continued to develop
expert talent and customized products and services. In 2015, we completed
the acquisition of the GE Healthcare Finance® business, which catapulted us
to a leading position in this attractive and growing specialty market.
We Are Building a Leading Information-
Based Technology Company
In our first Annual Report twenty years ago, we wrote:
Capital One is an Information Age company built to leverage
technology and knowledge capital for rapid exploitation of market
opportunities. Important to Capital One’s continued strong
growth has been our ability to harness the power of cutting-edge
information technology and use it to create a highly flexible
operating infrastructure. This infrastructure allows us to bring
new ideas to market much more quickly than our competition.
The dynamics that drove our strategy then are even more
profound today. We live in a world where the pace of
innovation is breathtaking and the forces of disruption present
defining strategic opportunities and risks. Tech companies
CAPITAL ONE HEALTHCARE
We welcomed hundreds of new
commercial healthcare clients
that are served by a talented
team of experienced professionals.
Combining our deep expertise and
relationships with the financial
strength and capabilities of a
leading bank will help our clients
grow and invest for the future.
CAPITAL ONE CAFÉS
In cities across the country, we are
reimagining banking by combining
face-to-face human connections
with modern, digital tools. Our cafés
serve as hubs for the community
and a place to learn about how
Capital One can help people achieve
their financial goals.