CAPITAL ONE FINANCIAL CORP
For the period ended Jun 30, 2026. Filed Jul 28, 2026.
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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.
Jun 30, 2026 · Filed Jul 28, 2026
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Non-Interest Income
Table 4 displays the components of non-interest income for the second quarter and first six months of 2026 and 2025.
Table 4: Non-Interest Income
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (Dollars in millions) | 2026 | 2025 | 2026 | 2025 |
| Discount and interchange fees, net | $2,256 | $1,478 | $4,220 | $2,701 |
| Service charges and other customer-related fees | 808 | 658 | 1,617 | 1,167 |
| Other(1)(2) | 412 | 361 | 725 | 616 |
| Total non-interest income | $3,476 | $2,497 | $6,562 | $4,484 |
(1)Primarily consists of revenue from Capital One Shopping, treasury income and auto industry services.
(2)Includes gains of $94 million and $76 million on deferred compensation plan investments in the second quarter and first six months of 2026, respectively, and gains of $57 million and $41 million on deferred compensation plan investments in the second quarter and first six months of 2025, respectively. These amounts have corresponding offsets in non-interest expense.
Non-interest income increased by $979 million to $3.5 billion in the second quarter of 2026 compared to the second quarter of 2025 and increased by $2.1 billion to $6.6 billion in the first six months of 2026 compared to the first six months of 2025 primarily driven by growth in our credit card loan portfolio, including the addition of Discover, as well as impacts from the reissuance of legacy Capital One customer debit cards onto the Global Payment Network.
Provision for Credit Losses
Our provision for credit losses in each period is driven by net charge-offs, changes to the allowance for credit losses and changes to the reserve for unfunded lending commitments. Our provision for credit losses decreased by $8.4 billion to $3.0 billion in the second quarter of 2026 and decreased by $6.7 billion to $7.1 billion in the first six months of 2026 primarily driven by the absence of the initial allowance for credit losses for loans acquired in the Discover acquisition.
We provide additional information on the provision for credit losses and changes in the allowance for credit losses within “Credit Risk Profile” and “Part I—Item 1. Financial Statements—Note 5—Allowance for Credit Losses and Reserve for Unfunded Lending Commitments.” For information on the allowance methodology, see “Part II—Item 8. Financial Statements and Supplementary Data—Note 1—Summary of Significant Accounting Policies” in our 2025 Form 10-K.
| 14 | Capital One Financial Corporation (COF) |
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