- Capital One (COF, Financial) achieved a net income of $1.4 billion in Q1 2025, with $3.45 per diluted share; adjusted earnings stood at $4.06 per share.
- The company's total deposits increased by $4.8 billion (1%) to $367.5 billion, while average deposits grew by 2%.
- Capital One's acquisition of Discover is set for completion on May 18, 2025, following regulatory approval.
Capital One Financial Corporation (COF) reported its financial results for the first quarter of 2025, announcing a net income of $1.4 billion, which translates to $3.45 per diluted common share. This represents an increase from the $1.1 billion, or $2.67 per share, reported in the previous quarter, as well as the $1.3 billion, or $3.13 per share, posted in the first quarter of 2024. After accounting for adjustments, the earnings were $4.06 per diluted share.
The company noted a decrease in total net revenue by 2% to $10.0 billion in the first quarter. Furthermore, the provision for credit losses diminished by $273 million, reaching $2.4 billion, driven by net charge-offs totaling $2.7 billion and a loan reserve release of $368 million.
Capital One's balance sheet observed a modest decline in period-end loans by $4.2 billion, or 1%, settling at $323.6 billion. Specifically, credit card loans decreased by 3% to $157.2 billion. In contrast, total deposits rose by $4.8 billion to $367.5 billion, with average deposits experiencing a 2% increase to $364.1 billion.
In a strategic move, Capital One received regulatory approval for the acquisition of Discover, with the transaction slated to be finalized on May 18, 2025. The integration aims to form a leading consumer banking and payments platform, leveraging Capital One's technology and digital capabilities.
