WILMINGTON, Del. - MBNA Corp. said on Wednesday that it continued to expect to achieve its profit growth expectations, and that an earnings warning from rival Providian Financial Corp. did not reflect its own experiences this quarter.
Providian said on Tuesday that it would lower its profit expectations for this year and next year because of the poor economy.
Shares of MBNA fell 1.4% on Wednesday, extending a decline among monoline credit card issuers Tuesday in reaction to the Providian news.