Third Quarter 2023 Financial Results
(1)
Commercial Banking
2023 Q3
2023
2023
2022
2023
2022
(Dollars in millions, except as noted)
Q3
Q2
Q3
Q2
Q3
Earnings:
Net interest income
Non-interest income
288
257
Total net revenue
$
621
$
632
S
699
(2)%
(11)%
319
12
(10)
909
889
1,018
2
(11)
Provision for credit losses
116
146
123
(21)
Non-interest expense
Pre-tax income
512
482
542
6
(6)
281
261
353
8
(20)
Capital One
Third Quarter 2023 Highlights
•
•
Ending loans held for
substantially flat
investment
quarter-over-quarter;
average loans held for investment down $1.6
billion, or 2%, quarter-over-quarter
Ending deposits down $758 million, or 2%,
quarter-over-quarter; average deposits down
$681 million, or 2%, quarter-over-quarter
Revenue up $20 million, or 2%, quarter-
over-quarter
Non-interest expense up $30 million, or 6%,
quarter-over-quarter
Provision for credit losses down $30 million
quarter-over-quarter
Net charge-off rate of 0.25%
Selected performance metrics:
Period-end loans held for investment
$ 91,153
$ 91,552
$ 95,831
(5)%
•
Average loans held for investment
91,556
93,195
95,490
(2)%
(4)
Period-end deposits
36,035
36,793
41,058
(2)
(12)
•
Average deposits
37,279
37,960
39,799
(2)
(6)
Average deposits interest rate
2.93%
2.68%
0.83%
25 bps
210 bps
•
Net charge-off rate
0.25
1.62
0.05
(137)
Risk category as a percentage of period-
end loans held for investment:(¹)
Criticized performing
Criticized nonperforming
20
•
Criticized performing loan rate of 8.08% and
criticized nonperforming loan rate of 0.90%
8.08%
6.73%
5.97%
135 bps
211 bps
0.90
0.89
0.57
1
33
Criticized exposures correspond to the "Special Mention," "Substandard” and “Doubtful" asset categories defined by bank regulatory authorities.View entire presentation