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Cleaned up credit portfolio makes for attractive acquisition
Target’s credit card portfolio is looking a whole lot more attractive to potential acquirers following improvements in the delinquency rates, risk profile and strong profit growth.
Fourth-quarter operating profit in the credit card segment increased 287% to $151 million compared with $39 million in the fourth quarter the prior year. For the full year, credit card segment profits advanced 169% to $541 million compared with $201 million the prior year.