CAPITAL ONE FINANCIAL CORP

Capital One Financial Corporation (NYSE: COF) operates as a diversified financial services holding company headquartered in McLean, Virginia, with its principal operating subsidiary being Capital One, National Association, a nationally chartered bank. The company maintains a website at www.capitalone.com.

The company is the largest issuer of credit cards in the United States based on outstanding credit card loan balances and ranks among the nation's largest banks by deposits. Capital One delivers financial products and services to consumers, small businesses, and commercial clients through digital channels, branch locations, cafés, call centers, and automated teller machines across the United States and internationally.

Capital One's business is organized into three primary segments. The Credit Card segment encompasses domestic consumer card lending, personal loans, domestic small business card lending, and international card operations in the United Kingdom and Canada. The Consumer Banking segment includes deposit gathering and lending activities for consumers and small businesses, national auto lending, and services provided through the Global Payment Network. The Commercial Banking segment serves commercial real estate and commercial and industrial customers, typically companies with annual revenues between $20 million and $2 billion, offering lending, deposit gathering, capital markets, and treasury management services.

In May 2025, Capital One completed its acquisition of Discover Financial Services, significantly expanding its market presence. Through this transaction, the company acquired the Discover Network, which processes credit and debit card transactions; the PULSE Network, an electronic funds transfer network providing ATM and merchant acceptance services; Diners Club International, a global payments network; and various network partnerships. The company also acquired approximately $108.2 billion in loans held for investment and $106.9 billion in deposits assumed from Discover.

Capital One operates internationally through Capital One (Europe) plc in the United Kingdom and through a Canadian branch, both authorized to provide credit card loans. The company's Global Payment Network earns fees from network participants and processes transactions for Bank-issued cards on its networks. The company competes across highly competitive markets against national and regional banks, credit unions, automotive finance companies, and emerging financial technology providers, competing primarily on product quality, innovation, transaction execution, and pricing.