Capital One Financial Corp
The McLean, Virginia-based company posted a quarterly loss available to common shareholders of $176.1 million, or 45 cents per share, compared with a net income of $548.5 million, or $1.47 cent per share, a year earlier.
In the U.S. card business, charge-offs -- debts the company believes it will never collect -- increased to 8.39 percent in the first-quarter from 7.08 percent in the fourth quarter.
Capital One set aside $124.1 million for loan losses, anticipating a further deterioration of its credit portfolio that is under pressure as unemployment rises.
Capital One's total managed revenue fell 18.6 percent to $3.7 billion.
Capital One's shares fell 6 percent to $14.15 in after-hours trading. The stock had closed up 12.48 percent to $15.05 on the New York Stock Exchange.
The company's shares have dropped about 52 percent this year, more than the 25 percent decline in the KBW Bank Index <.BKX>.
(Reporting by Juan Lagorio, editing by Leslie Gevirtz)