Capital One Financial Corporation announced its financial results for the third quarter of 2026 on October 20, 2026. The company reported net income of $3.5 billion, or $5.61 per diluted common share, for the three-month period ended September 30, 2026. This figure compares to net income of $3.0 billion, or $4.73 per share, in the preceding quarter.
Net revenue for the third quarter increased by 3 percent to $16.3 billion. Total non-interest expense decreased by 2 percent to $8.9 billion, driven by a 4 percent reduction in marketing expenses and a 2 percent decrease in operating expenses. Pre-provision earnings rose by 10 percent to $7.5 billion.
The provision for credit losses decreased by $73 million to $2.9 billion. The company reported net charge-offs of $3.1 billion and released $225 million in loan reserves. The net interest margin was 8.41 percent, an increase of 40 basis points from the previous quarter.
Regarding the balance sheet, period-end loans held for investment increased by $5.4 billion, or 1 percent, to $462.5 billion. This growth was led by Consumer Banking, which saw loans increase by $3.6 billion, and Auto loans, which increased by $3.6 billion. Total deposits decreased by $3.6 billion, or 1 percent, to $480.7 billion as of the end of the quarter.
Under Basel III standardized approaches, the company reported a Common Equity Tier 1 capital ratio of 13.8 percent as of September 30, 2026. Adjusted net income, which excludes specific acquisition and integration expenses, was reported at $6.69 per diluted common share.
CEO Richard D. Fairbank stated that the Discover integration continues to progress well and that the company is making progress on delivering expected synergies.
