Capital One profit rises 2 percent

Thu Jan 16, 2014 4:12pm EST

Jan 16 (Reuters) - Capital One Financial Corp, one of the largest credit card issuers in the United States, reported a 2 percent rise in quarterly profit as it set aside less provisions to cover credit losses.

Net income rose to $859 million, or $1.45 per share, for the fourth quarter ended December 31, from $843 million, or $1.41 per share, a year earlier.

Total net revenue fell 1.4 percent to $5.54 billion.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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