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Navient Reports Q2 Loan Loss Provision of $18M
Reports Q2 provision for loan losses $18M vs $29M last year. "Navient is moving forward in a position of strength, with the benefits of our strategic transformation evident in our second-quarter results," said Edward Bramson, Navient's CEO and chair of the board. "Originations grew more than 60% and operating expenses declined 18% from a year ago, reflecting the progress we made to strengthen the company and sharpen our focus."
Navient Says 'On Track' with Year Outlook
Navient says 'on track' with outlook for year
Company Closely Monitoring Environment
Says monitoring environment "closely." Comments taken from Q1 earnings conference call.
Navient Reports Q1 Loan Loss Provision of $18M
Reports Q1 provision for loan losses $18M vs. $43M last year; and Net charge-offs $72M vs. $87M last year. "Our Q1 results reflect strong momentum in high-quality loan growth, with originations more than 60% higher than the year ago period," said David Yowan, President and CEO of Navient. "The successful completion of our multi-year initiatives creates a foundation of a more strategically focused, flexible and efficient organization to support future growth. Our planned CEO leadership transition is underway and provides strategic continuity."
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