Profile: Capital One Financial Corp (COF)
24 Oct 2014
Capital One Financial Corporation, incorporated on July 21, 1994, is a diversified financial services holding company with banking and non-banking subsidiaries. Capital One Financial Corporation and its subsidiaries offer an array of financial products and services to consumers, small businesses and commercial clients through branches, the Internet and other distribution channels. As of December 31, 2012, the Company's principal subsidiaries included Capital One Bank (USA), National Association (COBN), which offers credit and debit card products, other lending products and deposit products, and Capital One, National Association (CONA), which offers a spectrum of banking products and financial services to consumers, small businesses and commercial clients. On February 17, 2012, the Company acquired ING Direct business in the United States (ING Direct) from ING Groep N.V., ING Bank N.V., ING Direct N.V. and ING Direct Bancorp. In November 2013, Capital One Financial Corp acquired Beech Street Capital LLC.
The Company also offers products outside of the United States principally through Capital One (Europe) plc (COEP), an indirect subsidiary of COBNA organized and located in the United Kingdom, and a branch of COBNA in Canada. COEP provides credit card and installment loans. The Company operates in three business segments: Credit Card, Consumer Banking and Commercial Banking.
Credit card segment consists of the Company's domestic consumer and small business card lending, national small business lending, national closed end installment lending and the international card lending businesses. This segment operates in Canada and the United Kingdom. Its credit card loan portfolio is diversified across millions of accounts and multiple geographies. It generally manages credit risk on a portfolio basis.
Consumer banking segment consists of the Company's branch-based lending and deposit gathering activities. It is provided to consumers and small businesses, national deposit gathering, national auto lending and consumer home loan lending and servicing activities. Its home loan portfolio consists of both first-lien and second-lien residential mortgage loans. Its consumer banking loan portfolio consists of auto, home loan and retail banking loans. It also present the delinquency and nonperforming loan rates of its consumer banking loan portfolio, excluding PCI loans, as of December 31, 2012, and net-charge offs.
Commercial banking segment consists of the Company's lending, deposit gathering and treasury management services to commercial real estate and commercial and industrial customers. The Company's commercial and industrial customers typically include companies with annual revenues between $10 million to $1 billion.
Capital One Financial Corp
SUITE 1400, 1680 Capital One Dri
MCLEAN VA 22102
Company Web Links
- Fitch: Improving Growth in Capital One's 3Q'14 Earnings
- Capital One profit misses estimates on higher loan loss provision
- UPDATE 1-Capital One profit misses estimates on higher loan loss provision
- Capital One quarterly profit falls on higher loan loss provision
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