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Visa profit beats Street

Visa Inc, the world's largest credit and debit card company, reported a better-than-expected 9 percent rise in quarterly profit as more people used cards instead of cash to make payments. Visa shares rose 3.2 percent in trading before the bell. The company also said it would continue to work to make card payments more secure as concerns mount over the safety of debit and credit cards.

"Visa is committed to ensuring our network operates at the highest level of security available and will continue to move the industry towards the adoption of new safeguards," Chief Executive Charlie Scharf said on Thursday. Net income attributable to Visa rose 9 percent to $1.41 billion, or $2.20 per Class A share, in the first quarter from $1.29 billion, or $1.93, a year earlier. Total operating revenue increased 11 percent to $3.16 billion in the quarter ended December 31.

Copyright Reuters, 2014



 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln