Capital One Says Provisions Tripled on Pandemic, Oil Decline [Yahoo! Finance News]
Capital One Financial Corporation (COF)
Last capital one financial corporation earnings: 4/23 04:05 pm
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Source: Yahoo! Finance News
) -- Capital One Financial Corp. said it more than tripled the amount of money set aside to cover souring loans, prompted by the coronavirus pandemic and a drop in oil prices during the first quarter.The bank earmarked $5.42 billion in provisions in the period, a 220% increase from a year earlier. The total allowance for credit losses increased due to “significant economic uncertainty” from the pandemic and “credit deterioration in the oil and gas industry,” the company said.“Capital One rapidly mobilized to respond to Covid-19 and the disruption it is causing,” Chief Executive Officer Richard Fairbank said Thursday in a statement announcing quarterly results. “We are well positioned to navigate and manage through these uncertain times, and to emerge with strength on the other side.”The net loss in the quarter was $1.34 billion, or $3.10 a share, compared with net income of $1.2 billion, or $2.25, a year earlier.Capital One said nearly three-quarters of its $6.24 billion exposure to t
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COF
Earnings
- 10/21/25 - Beat
COF
Sec Filings
- 12/3/25 - Form 4
- 12/3/25 - Form 4
- 12/3/25 - Form 4
- COF's page on the SEC website