Capital One Financial (COF) Reports Monthly Charge-Off and Delinquency Metrics
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Capital One Financial (NYSE: COF) disclosed:
Capital One Financial Corporation
Monthly Charge-Off and Delinquency Metrics
As of and for the month ended July 31, 2024
| Loans Held for Investment | Net Charge-Offs | 30+ Day Performing Delinquencies | Nonperforming Loans | |||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in millions, except as noted) | Average | Period-End | Amount | Rate(1) | Amount | Rate(2) | Amount | Rate(3) | ||||||||||||||||||||||||||||||||||||||||||
| Credit Card:(4) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Domestic(5) | $ | 146,083 | $ | 148,611 | $ | 705 | 5.79 | % | $ | 6,366 | 4.28 | % | N/A | N/A | ||||||||||||||||||||||||||||||||||||
| Consumer Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Auto | 74,591 | 74,736 | 131 | 2.11 | 4,459 | 5.97 | $ | 715 | 0.96 | % | ||||||||||||||||||||||||||||||||||||||||
___________________
(1)Net charge-off rate is calculated by dividing annualized net charge-offs for the period by average loans held for investment during the period for the specified loan category. Net charge-offs and the net charge-off rate are impacted periodically by fluctuations in recoveries, including impacts of debt sales.
(2)30+ day performing delinquency rate is calculated by dividing 30+ day performing delinquent loans as of the end of the period by period-end loans held for investment for the specified loan category.
(3)Nonperforming loan rate is calculated by dividing nonperforming loans as of the end of the period by period-end loans held for investment for the specified loan category.
(4)Period-end loans held for investment and average loans held for investment include billed finance charges and fees. We recognize billed finance charges and fee income on open-ended loans in accordance with the contractual provisions of the credit arrangements and estimate the uncollectible amount on a quarterly basis. Billed finance charges and fees that are ultimately uncollectible are reflected as a reduction in revenue and not included in our net charge-offs.
(5)The termination of our Walmart program agreement, effective May 21, 2024, increased the Domestic Card net charge-off rate by 40 basis points for July 2024. Excluding this impact, the Domestic Card net charge-off rate would have been 5.39%.
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