CAPITAL ONE FINANCIAL CORP
For the period ended Sep 30, 2024. Filed Oct 31, 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.
Sep 30, 2024 · Filed Oct 31, 2024
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Loans Held for Investment
Total loans held for investment consists of both unsecuritized loans and loans held in our consolidated trusts. Table 6 summarizes, by portfolio segment, the carrying value of our loans held for investment, the allowance for credit losses and net loan balance as of September 30, 2024 and December 31, 2023.
Table 6: Loans Held for Investment
| September 30, 2024 | December 31, 2023 | |||||
|---|---|---|---|---|---|---|
| (Dollars in millions) | Loans | Allowance | Net Loans | Loans | Allowance | Net Loans |
| Credit Card | $156,651 | $(12,989) | $143,662 | $154,547 | $(11,709) | $142,838 |
| Consumer Banking | 76,758 | (2,015) | 74,743 | 75,437 | (2,042) | 73,395 |
| Commercial Banking | 86,834 | (1,530) | 85,304 | 90,488 | (1,545) | 88,943 |
| Total | $320,243 | $(16,534) | $303,709 | $320,472 | $(15,296) | $305,176 |
Loans held for investment decreased by $229 million to $320.2 billion as of September 30, 2024 compared to December 31, 2023 primarily driven by customer payments outpacing originations in our commercial loan portfolio, partially offset by growth in our credit card and auto loan portfolios.
We provide additional information on the composition of our loan portfolio and credit quality in “Credit Risk Profile,” “Consolidated Results of Operations” and “Part I—Item 1. Financial Statements—Note 4—Loans.”
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