Discover Financial profit falls 6 percent
April 22 (Reuters) - Credit card issuer Discover Financial Services reported a 6 percent fall in quarterly profit, hurt by higher provision for loan losses.
Net income allocated to common stockholders fell to $618 million, or $1.31 per share, in the first quarter ended March 31, from $659 million, or $1.33 per share, a year earlier.
Revenue, net of interest expense, rose 4 percent to $2.08 billion.
(Reporting By Neha Dimri in Bangalore; Editing by Savio D'Souza)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.