Discover Financial Services’ Loans by Segment (2016-2022)

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This statistic highlights Discover Financial Services’ Loans by Segment, split across Credit Cards, Personal, Private Student Loans, reported on a quarterly basis from Q1 2016 onwards.
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This statistic highlights Discover Financial Services’ Loans by Segment, split across Credit Cards, Personal, Private Student Loans, reported on a quarterly basis from Q1 2016 onwards.

Discover Financial Services’ Loans by Segment

Segment Q3 2020 Q2 2021 Q3 2021 Contribution in Q3 2021
Credit Card $71.47 $67.42 $70.32 78.53%
Personal $7.18 $6.88 $6.89 7.69%
Private student loans $9.95 $9.99 $10.18 11.37%
Other $1.85 $2.00 $2.15 2.40%
Total $90.45 $86.30 $89.54 100.00%

(All the values are in billions, except percentages)

The total loan in Q3 2021 stood at $89.54 billion, indicating a decline on year-on-year basis but an incline on a quarter-on-quarter basis when compared to Q3 2020 and Q2 2021, respectively. Under the year-on-year scale, the loan amount has decreased by 1%, from $90.45 billion in Q3 2020 to $89.54 billion in Q3 2021. When the loan of Q3 2021 is compared to Q2 2021, the loan value has increased by 3.76%, from $86.3 billion in Q2 2021 to $89.54 billion in Q3 2021. The largest loan was given out through credit cards, followed by private student loans, personal and other segments.

Credit Card

The loans extended through credit cards are the largest loan segment for the company, contributing 78.53% of the total loans given out by Discover Financial in Q3 2021, amounting to $70.32 billion. On a year-on-year basis, the scale showed a negative impact on the loan amount by 1.61%, falling from $71.47 billion in Q3 2020, but on a quarter-on-quarter basis, the loan value is showing an appreciation in value by 4.3%, from $67.42 billion in Q2 2021.

This resulted in a decrease in net interest income for the year ended December 31, 2021, when compared to the year ended December 31, 2020. It was primarily due to lower interest on credit card loans, resulting from lower market rates and lower volume. Their credit cards customers are permitted to revolve their balance and repay their obligations over some time and at an interest rate outlined in their cardmember agreements.

Personal 

The personal loan segment is the third-largest contributor to the total loan amount given out by Discover Financial in Q3 2021. The loan amount value of the personal loan in Q3 2021 was $6.89 billion, which shows a decline in their loan value by 4% on a year-on-year basis when compared to the loan amount of $7.18 billion in Q3 2020. Whereas, on a quarter-on-quarter basis, the loan amount increased by 0.0872%, from the value of $6.88 billion in Q2 2021.

A personal loan as a financial product is intended to help their customers, as it is an unsecured loan with fixed interest rates, have zero origination fees, and terms and payments. The tenure is usually between 3-7 years and there is no penalty for repaying any portion of the personal loan balance. Customers can be subject to late fees if they do not match the minimum payment criteria.

Private student loans

The private student loan segment amounts to $10.28 billion in Q3 2021, which consists of 11.37% of the total loan given by the company, making it the second-largest contributor of that quarter. There is an incline of 2.31% on a year-on-year basis, increasing from $9.95 billion in Q3 2020. On a quarter-on-quarter basis, it witnessed an incline of 1.91%, increasing from $9.99 billion in Q2 2021.

The private student loan has multiple features, a choice between fixed or variable interest rates with zero origination fees. Customers can pay their loans off earlier than contractually scheduled without penalty. The standard repayment tenure is between 15-20 years.

Other

This loan segment of the company gave out loans amounting to $2.15 billion in Q3 2021, contributing 2.4% to the total loans given by the company in that quarter. It witnessed the highest increase on a quarterly and yearly basis. On a quarter-on-quarter basis, the amount has increased by 7.45%, from $1.85 billion in Q3 2020. On a year-on-year basis, the value has increased by 16.36%, when compared to $2 billion in Q2 2021.

Any other loans given out by the company like home loans, car loans, etc are categorized under the “Other loans” segment.

About the company

Discover Financial Services is a payment services and digital banking company. They provide digital banking services and products and payment services through their subsidiaries. They offer their customers personal loans, credit card loans, private student loans, home loans, and deposit products. They also operate the Discover Network, the Diners Club International, and The Plus Network. The common stock of Discover Financial Services is publicly traded on the NYSE under the symbol “DFS” and is a component of the S&P 500.

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