Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
Owning a payment network is already lifting fee income
The filing credits moving its own debit cards onto the Discover network, and fees grew far faster than lending.
For investorsWhat the earnings now depend on: deposit costs, reserves and the network
For foundersOwning the rails: bringing the transaction toll in-house
Interest income barely moved, but funding costs fell, so most of the net interest income gain came from paying depositors less.
Charge-offs dropped, but a smaller reserve release than a year earlier pushed the provision for credit losses up 7.44%.
Pre-tax income rose 4.34% but net income 10.87%, so the operating trend is slower than the bottom line suggests.
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Business Lens describes Capital One from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
