MBNA Corp.This credit card company, a former subsidiary of...

BY THE NUMBERS

October 11, 1991

MBNA Corp.

This credit card company, a former subsidiary of MNC Financial Inc., reported higher earnings in the third quarter as the percentage of bad loans to total loans continued to fall.

MBNA, which has its headquarters in Newark, Del., said its earnings rose 16 percent, to $40.3 million, or 81 cents a share, for the past three months, compared with earnings of $34.8 million, or 70 cents a share, during the year-ago period.

The company said its total managed loans, including credit card loans that have been sold as packages of securities or are being held for sale, increased $1.3 billion to $8.2 billion. Of that amount, 4.13 were reported delinquent at Sept. 30, up slightly from a year ago but down from 4.52 percent at the beginning of the year.

MBNA, which was sold to the public by MNC in January, also declared a regular 40-cent quarterly dividend yesterday, payable Jan. 1 to stockholders of record Dec. 18.

Three months ended 9/30/91

..... .....Income..... ..... Share

'91..... ...$40,326,000........ 0.81

'90..... ...34,804,000........ 0.70

% change......... +15.9........ +15.7

..... .....Assets...... ...... Deposits

'91..... .. 5,675,341,000.... 4,776,678,000

'90..... .. 3,895,478,000.... 2,997,433,000

% change............ +45.7............. +59.4

Nine months ended 9/30/91

..... .....Income..... ..... Share

'91..... .. 104,362,000....... 2.10

'90..... ... 90,394,000....... 1.83

% change.......... +15.5....... +14.8

Loan portfolio

Three months ended 9/30/91

.......Loans outstanding..... Net charge-offs

'91....... 2,144,730,000....... ....... .... NA

'90....... 2,098,292,000....... ....... .... NA

% change............ +2.2....... ....... .... NA

Addition to allowance for loan losses... Allowance for loan losses

'91..... ..... 22,708,000...... ....... 97,580,000

'90..... ..... 13,908,000...... ....... 94,823,000

% change ..... ......+63.3...... ....... ...... +2.9

Maryland Federal Bancorp

The Hyattsville-based parent company of Maryland Federal Savings & Loan Association said that its earnings for the quarter that ended Aug. 31 rose nearly 48 percent despite a larger provision for loan-loss reserves than a year ago.

The company said that it earned $1.345 million, or 48 cents a share, up from $910,000 in the same three months of last year. Last year's profit worked out to 30 cents a share.

The company said that it also had a good six months. First-half earnings jumped 48 percent, to $2.6 million.

Three months ended 8/31/91

..... .....Income..... ..... Share

'91..... .... 1,345,000....... 0.48

'90..... ...... 910,000....... 0.30

% change..... .... +47.8....... +60.0

...... ......Assets..... Deposits

'91...... ..784,005,000.........N/A

'90...... ..759,706,000........ N/A

% change..... ..... +3.2........ N/A

Six months ended 8/31/91

..... .....Income..... Share

'91..... .. 2,567,000... 0.91

'90..... .. 1,731,000... 0.57

% change.... ... +48.3... +59.6

Loan portfolio

Three months ended 8/31/91

...Loans outstanding... Net charge-offs

'91....... ....... N/A.... N/A

'90....... ....... N/A.... N/A

% change.. ....... N/A.... N/A

Addition to allowance for loan losses...Allowance for loan losses

'91........ 275,000........ ..... .....N/A

'90........ 160,000........ ..... .....N/A

% change ......+71.9........ ..... .....N/A

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