Discover Financial Services - DFS STOCK NEWS

Discover Financial Services (NYSE: DFS) announced that Dan Capozzi, executive vice president and president of US cards, will present at the KBW Fintech Payments Conference on March 1, 2023, at 9:30 a.m. ET. A live webcast of the conference will be available on Discover's Investor Relations website. The event highlights Discover's commitments in digital banking and payment services, positions with recognized brands in U.S. financial services, and its extensive card issuing capabilities. Discover continues to offer diverse financial products including loans and savings accounts, enhancing its operational reach.

Discover Financial Services' PULSE network has been named the exclusive debit partner of Bankers Helping Bankers, enhancing support for community banks. This collaboration aims to provide community financial institutions with insights and expertise to improve debit programs, mitigate fraud risks, and engage account holders. PULSE is recognized for its long-standing commitment to community banking, working alongside the Independent Bankers Association of Texas (IBAT) and FedFis. The initiative underscores the growing importance of debit in community banks as a vital source of non-interest income.

Discover Financial Services (NYSE: DFS) announced that its CFO, John Greene, will present at the Credit Suisse Financial Services Forum on February 14, 2023, at 10:15 a.m. ET. A live webcast of the presentation will be available on Discover's Investor Relations website, with a replay accessible for 90 days post-event. Founded in 1986, Discover is a major player in U.S. financial services, offering a range of products including the Discover® card, private student loans, personal and home loans, as well as checking and savings accounts. The company operates the Discover Global Network, ensuring widespread merchant and cash access locations.

Discover Financial Services (NYSE: DFS) reported fourth quarter 2022 net income of $1.0 billion, or $3.77 per diluted share, down 3% from $1.1 billion in 2021. Total loans grew 20% year-over-year to $112.1 billion, driven by a 21% increase in credit card loans. Total revenue reached $3.73 billion, a 27% rise from 2021, aided by a 24% increase in net interest income. However, the net charge-off rate rose to 2.13%, reflecting credit normalization. The Board declared a $0.60 quarterly dividend and also announced semi-annual dividends for preferred stock. Despite higher operational costs, the company remains optimistic about revenue growth for 2023.

Discover Global Network has expanded its Tap and Pay solutions with transit agencies in Poland, Spain, and Taiwan, allowing riders to make contactless payments with Discover and Diners Club cards. The adoption of contactless payments has surged, with 53% of transit transactions now contactless, up from 14% in August 2020. Discover's Transit Solution aims to enhance customer experience and operational efficiency for transit agencies. Discover has partnered with various transit systems, including EMT Madrid and Metro de Seville, and plans further deployments in Turkey and Qatar.

Discover Financial Services (NYSE: DFS) will report its fourth quarter 2022 results on January 18, 2023, after market closure. A conference call to discuss these results and future outlook is scheduled for January 19, 2023, at 7:00 a.m. CT. The earnings report will be accessible via Discover’s Investor Relations website. As one of the largest card issuers in the U.S., Discover offers a range of financial products, including personal and student loans, alongside its renowned cash rewards credit card.

Discover Financial Services announces that Hope Mehlman will join as chief legal officer and general counsel. With over 20 years of experience in legal and compliance within the financial services sector, Mehlman aims to enhance Discover's legal strategies and ESG efforts. Previously at Bank of the West, her leadership experience includes promoting diversity and inclusion. CEO Roger Hochschild states her expertise will significantly support Discover's corporate and regulatory initiatives.

Discover has been recognized as one of the 'Best Places to Work in IT' for 2023 by Foundry's Computerworld, marking its 19th year on the list. Ranked No. 30 among large companies, Discover is acknowledged for providing competitive benefits, extensive career development opportunities including tuition reimbursement, and a flexible work environment. The recognition is based on a comprehensive questionnaire and review by industry experts, highlighting Discover’s commitment to its IT workforce and diversity initiatives.

Discover, a top digital banking and payments company, plans to invest over $16 million to open a customer care center in Whitehall, Ohio. Hiring for customer support roles will commence early next year, with renovations of the 103,000-square-foot facility starting in spring. This initiative expands Discover's workforce in the Columbus region, where it already employs 2,100 individuals. The center aims to create quality job opportunities and foster economic growth in the local community.