Third Quarter 2023 Financial Results
Credit Card
2023 Q3
2023
2023
2022
2023
2022
(Dollars in millions, except as noted)
Q3
Q2
Q3
Q2
Q3
Earnings:
Net interest income
$ 5,114
$
4,727
$
4,313
8%
19%
Non-interest income
1,513
1,499
1,454
1
4
Total net revenue
6,627
6,226
5,767
6
15
Provision for credit losses
1,953
2,084
1,261
(6)
55
Non-interest expense
3,015
3,020
3,004
Pre-tax income
1,659
1,122
1,502
48
10
Selected performance metrics:
Period-end loans held for investment
$146,783
$ 142,491
$ 126,913
3%
16%
Average loans held for investment
144,049
138,762
123,357
4
17
Total net revenue margin
18.40%
17.95%
18.70%
45 bps
(30)bps
Net charge-off rate
4.42
4.41
2.25
1
217
Purchase volume
$158,640
$157,937
$ 149,497
6%
.
Capital One
Third Quarter 2023 Highlights
Ending loans held for investment up
$19.9 billion, or 16%, year-over-year;
average loans held for investment up
$20.7 billion, or 17%, year-over-year
Purchase volume up 6% year-over-year
Revenue up $860 million, or 15%, year-
over-year
•
Revenue margin of 18.40%
Non-interest expense substantially flat
year-over-year
Provision for credit losses up $692
million year-over-year
Net charge-off rate of 4.42%View entire presentation