CAPITAL ONE FINANCIAL CORP
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
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Nonperforming Loans and Other Nonperforming Assets
Nonperforming Loans and Nonperforming Assets
Nonperforming loans include loans that have been placed on nonaccrual status. Nonperforming assets consist of nonperforming loans, repossessed assets and other foreclosed assets. See “Part II—Item 8. Financial Statements and Supplementary Data—Note 1—Summary of Significant Accounting Policies” in our 2023 Form 10-K for information on our policies for classifying loans as nonperforming for each of our loan categories.
Table 25 presents our nonperforming loans, by portfolio segment, and other nonperforming assets as of March 31, 2024 and December 31, 2023. We do not classify loans held for sale as nonperforming. We provide additional information on our credit quality metrics in “Business Segment Financial Performance.”
| 46 | Capital One Financial Corporation (COF) |
Table 25: Nonperforming Loans and Other Nonperforming Assets(1)
| March 31, 2024 | December 31, 2023 | |||
|---|---|---|---|---|
| (Dollars in millions) | Amount | Rate | Amount | Rate |
| Nonperforming loans held for investment:(2) | ||||
| Credit Card: | ||||
| International card businesses | $9 | 0.13% | $9 | 0.13% |
| Total credit card | 9 | 0.01 | 9 | 0.01 |
| Consumer Banking: | ||||
| Auto | 585 | 0.79 | 712 | 0.96 |
| Retail banking | 41 | 3.21 | 46 | 3.36 |
| Total consumer banking | 626 | 0.83 | 758 | 1.00 |
| Commercial Banking: | ||||
| Commercial and multifamily real estate | 541 | 1.58 | 425 | 1.23 |
| Commercial and industrial | 607 | 1.10 | 336 | 0.60 |
| Total commercial banking | 1,148 | 1.28 | 761 | 0.84 |
| Total nonperforming loans held for investment(3) | 1,783 | 0.57 | 1,528 | 0.48 |
| Other nonperforming assets(4) | 59 | 0.01 | 62 | 0.02 |
| Total nonperforming assets | $1,842 | 0.58 | $1,590 | 0.50 |
(1)We recognized interest income for loans classified as nonperforming of $5 million and $2 million in the first quarters of 2024 and 2023, respectively.
(2)Nonperforming loan rates are calculated based on nonperforming loans for each category divided by period-end total loans held for investment for each respective category.
(3)Excluding the impact of domestic credit card loans, nonperforming loans as a percentage of total loans held for investment was 1.04% and 0.88% as of March 31, 2024 and December 31, 2023, respectively.
(4)The denominators used in calculating nonperforming asset rates consist of total loans held for investment and other nonperforming assets.
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