Capital One Financial Corporation reported significant financial improvements in its second quarter and first half of 2026, driven by increased net interest income and a substantial reduction in provisions for credit losses. The company posted a net income of $3.0 billion, or $4.73 per diluted share, for the quarter ending June 30, 2026, compared to a net loss of $4.3 billion, or $(8.58) per diluted share, for the same period in 2025. Total net revenue for the second quarter reached $15.9 billion, a 27% increase from $12.5 billion in the prior year. For the first six months of 2026, net income was $5.2 billion, or $8.07 per diluted share, compared to a net loss of $2.9 billion in the first half of 2025.
The company attributed its improved performance to several factors, including a 24% increase in net interest income to $12.4 billion for the second quarter, primarily due to higher average credit card loan balances following the acquisition of Discover. Non-interest income also rose by 39% to $3.5 billion, bolstered by growth in the credit card loan portfolio and the reissuance of legacy Capital One customer debit cards onto the Global Payment Network. The provision for credit losses saw a significant decrease of 74% to $2.99 billion, reflecting the absence of the initial allowance for credit losses related to loans acquired in the Discover acquisition.
Capital One's strategic developments included the completion of the Brex acquisition on April 7, 2026, for approximately $4.5 billion, which is expected to enhance its offerings in the business payments marketplace. The company also integrated Discover's operations, which has contributed to its growth in customer accounts and loan portfolios. As of June 30, 2026, Capital One reported total loans held for investment of $457.2 billion, a 1% increase from the end of 2025, with notable growth in auto and commercial loan portfolios.
Operationally, Capital One's customer base expanded, with total deposits increasing by 2% to $484.3 billion as of June 30, 2026. The company reported a 156% increase in Global Payment Network volume, reflecting its growing market presence. The total employee headcount rose by 3% to 78,400, indicating ongoing investment in human resources to support its expanding operations. Looking ahead, Capital One expressed optimism about its growth trajectory, driven by strategic acquisitions and a focus on enhancing its digital offerings, while also managing risks associated with credit quality and market conditions.
About CAPITAL ONE FINANCIAL CORP
Capital One Financial Corporation is a diversified financial services holding company offering credit cards, consumer and commercial banking, auto loans, and treasury management primarily in the U.S., with operations in the U.K. and Canada. Its core segments include Credit Card, Consumer Banking, and Commercial Banking, serving consumers, small businesses, and commercial clients. Capital One leverages digital platforms, branch networks, and customer-focused products to compete on innovation, pricing, and service quality.
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