Financial Services
Capital One Financial Corporation reported 2026-Q2 net income of $3.0B and total net revenue of $15.9B, as the prior-year Discover acquisition comparison and higher credit card balances lifted revenue while the absence of the acquisition-date credit-loss allowance sharply reduced provision expense. Source: 10-Q Item 2 MD&A, pp.6, 9.
Key risk: Consumer credit-loss exposure remains material
Net charge-offs were $3.6B in 2026-Q2 and $7.5B for the first six months of 2026, with a 2026-Q2 net charge-off rate of 3.23%. Although the 30+ day delinquency rate improved to 3.13% at June 30, 2026 from 3.59% at year-end 2025, the company retained a $23.0B allowance for credit losses, illustrating the scale of ongoing consumer and commercial credit risk.
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