MBNA Corp. reported a 28% earnings increase for the third quarter.

The credit card issuer said net income rose to $216.6 million, or 27 cents per common share, compared with $171.8 million, or 21 cents a share, a year earlier.

The comparisons are adjusted for a 3-for-2 stock split that took effect Oct. 1. The shares were valued at 41 cents before the split.

In its announcement Wednesday, MBNA said it had $56.3 billion in managed loans as of Sept. 30, and a delinquency rate of 4.69%, well below the industry average.

For the first nine months of this year, net income rose to $538 million, compared with $434.2 million a year earlier.

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