Capital One Financial Corporation is a diversified financial services holding company offering a broad array of financial products and services to consumers, small businesses, and commercial clients. The company operates through digital channels, branch locations, cafés, and other distribution channels. Capital One is the third largest issuer of Visa and MasterCard credit cards in the U.S. based on outstanding balances. It also offers debit cards, bank lending, treasury management, depository services, auto loans, and other consumer lending products. The company services banking customer accounts through digital channels and a network of branch locations, cafés, call centers, and ATMs. Capital One also has international operations in the U.K. and Canada.

The company has entered into an agreement to acquire Discover Financial Services, which is expected to close in the future subject to regulatory and shareholder approvals.

• Employees: 51,987 (as of December 31, 2023)
• Geographic Footprint: U.S., United Kingdom, Canada
• Headquarters: McLean, Virginia
• Founded: 1994
• Revenue: $36.8 billion (FY2023)

• CEO: Richard D. Fairbank
• CFO: Andrew M. Young
• Chief Operational Risk Officer: Timothy P. Golden

• Annual Revenue: $36.8 billion (FY2023)
• Net Income: $4.9 billion
• Total Assets: $478.5 billion
• Employees: 51,987 (as of December 31, 2023)
• Key Financial Highlights: Net income decreased by $2.5 billion compared to 2022, primarily due to higher provision for credit losses and non-interest expenses, partially offset by higher net interest income.

Capital One offers a range of financial products and services, including:

• Credit Cards: Visa and MasterCard credit cards for consumers and small businesses.
• Consumer Banking: Deposit accounts, checking, savings, auto loans, and other consumer lending products.
• Commercial Banking: Lending, deposit gathering, capital markets, and treasury management services to commercial real estate and commercial and industrial customers.

Capital One's operations are organized into three main segments:

• Credit Card: Includes domestic consumer and small business card lending, and international card businesses in the U.K. and Canada.
• Consumer Banking: Includes deposit gathering and lending activities for consumers and small businesses, and national auto lending.
• Commercial Banking: Includes lending, deposit gathering, capital markets, and treasury management services to commercial real estate and commercial and industrial customers.

Capital One's strategy includes exploring opportunities to acquire financial products, services, and assets, as well as technology companies. The company focuses on digital strategy and may issue equity or debt to fund acquisitions. It also considers potential dispositions of assets, branches, and lines of business.

Capital One operates in a highly competitive environment, facing competition from numerous bank and non-bank financial service providers. The company competes with national, regional, and local issuers of credit cards, as well as with other banks, savings and loan associations, and credit unions. Competition is based on product quality, range of services, transaction execution, innovation, and price.

• Transaction Risks: Risks related to the pending acquisition of Discover, including failure to obtain approvals, integration challenges, and the potential for not realizing anticipated benefits.
• Macroeconomic Risks: Changes and instability in the macroeconomic environment, including inflation, deflation, potential recessions, and changes in consumer behavior.
• Credit Risks: Fluctuations in delinquencies and credit losses, and the risk of incorrectly estimating expected losses.
• Cybersecurity Risks: Risks related to cyber-attacks and security incidents, including theft, loss, or misuse of information.
• Regulatory Risks: Compliance with new and existing laws and regulations, including those related to capital, liquidity, privacy, and data protection.