April 18, 2013 / 8:21 PM / 4 years ago

Capital One Financial profit falls

April 18 (Reuters) - Capital One Financial Corp’s quarterly profit fell about 25 percent from the year-earlier period, when the company recorded a $594 million gain related to its purchase of ING’s online banking business ING Direct.

The company’s net income fell to $1.1 billion, or $1.79 per share, in the first quarter from $1.4 billion, or $2.72 per share.

Excluding the gain related to the ING Direct deal, the company had earned $1.56 per share a year earlier.

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