Capital One cost savings plan on track--CFO

NEW YORK (Reuters) - Capital One Financial Corp's cost cutting plan is on track and should still generate gross savings of $700 million by 2009, the company's chief financial officer said on Thursday.

Speaking on a conference call, Capital One CFO Gary Perlin also said the company expects low- to mid-single-digit deposit and low growth in 2008.

Capital One still expects to generate 2007 earnings of about $5.00 a share, Perlin said.

(Reporting by Dan Wilchins)