Overview

• Capital One's Q1 net interest income rose 7% to $8.01 billion, driven by higher credit card interest rates.
• Net charge-offs increased by 4.6% to $2.74 billion, reflecting evolving consumer credit risks in a volatile economy.
• U.S. regulators have approved Capital One's $35.3 billion acquisition of Discover Financial Services, scheduled to close on May 18.
• The merger will create the largest U.S. credit card issuer by balances and give Capital One control of Discover’s payment network.
• CEO Richard Fairbank reaffirmed a $1.5 billion integration cost estimate by 2027, though timelines have shifted due to regulatory delays.