MBNA Corp., the second largest credit card issuer, announced that net income rose 26.4% to $58.2 million for the second quarter compared with the same period last year.
On a per-share basis, the Newark, Del., issuer that specializes in marketing affinity cards, rose $.39 compared with $.31 per share in the second quarter of 1993.
Also, MBNA's board of directors declared a quarterly dividend of $.18 per share, payable Oct. 1, 1994, to stockholders of record as of Sept. 16, 1994.
In the first two quarters of 1994, MBNA added 2.9 million new cardholders to its total portfolio of 12 million.
A spokesman for MBNA said that the company has enjoyed a strong first two quarters because - it is acquiring customers who are using their cards more frequently. "We are getting and keeping the right customers, people who are using their cards and paying on time," he said.
MBNA also reported that delinquency rates on total managed loans decreased from 3.56% at June 30, 1993, to 3.15% at June 30 this year.
Total managed loans increased 34.6% to $14.2 billion in the second quarter of 1994 over the second quarter of 1993.
