Capital One (COF) Reports 5.82% Credit Card Charge-Off Rate

By Tamara Parker • Friday, November 15 15:19 • Permanent Link

Capital One Financial Corporation has released its monthly charge-off and delinquency metrics for the month ended October 31, 2024. Here are the key figures:

Credit Card: Domestic period-end loans held for investment: $150,607 million Net charge-offs: $720 million Net charge-off rate: 5.82% 30+ day performing delinquencies: $6,942 million 30+ day performing delinquency rate: 4.61% Nonperforming loans: Not applicable for this category

Consumer Banking * Auto: Period-end loans held for investment: $75,737 million Net charge-offs: $148 million Net charge-off rate: 2.34% 30+ day performing delinquencies: $4,396 million 30+ day performing delinquency rate: 5.80% Nonperforming loans: $694 million * Nonperforming loan rate: 0.92%

It's important to note that the termination of Capital One's Walmart program agreement, effective May 21, 2024, increased the Domestic Card net charge-off rate by 39 basis points for October 2024. Excluding this impact, the Domestic Card net charge-off rate would have been 5.43%.

These metrics provide a snapshot of the credit quality of Capital One's loan portfolios and highlight changes in key financial indicators compared to the previous period. Today the company's shares have moved 1.1% to a price of $184.93. For the full picture, make sure to review Capital One Financial's 8-K report.

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