Capital allocation remains a core competence at Discover.
Narrow-moat Discover benefited from continued loan growth in the second quarter, with both credit card and total balances expanding by 8%. The company also added 11% to its base of deposits, while gaining margin as loans repriced higher with climbing interest rates. However, normalization of credit quality offset the firm’s balance sheet growth--core net charge-offs rose by 52 basis points to 2.79% of loans. The company built its allowance for loan losses by $119 million, to 3.06% of loans. As a...Discover Financial Services is a bank holding, as well as a financial holding company. The company manages its business activities in two segments: Direct Banking, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals on the Discover Network and other consumer banking products and services, including student loans, personal loans, home equity loans, and deposit products; and Payment Services, which includes the PULSE network, Diners Club International and its Network Partners business, which provides payment transaction processing and settlement services on the Discover Network.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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