Key Stats
- 2024 Revenue: $53.94 billion
- 2024 Employees: 52,600
- Market Cap: $136.66 billion (February 2026)
- Fortune 500 Rank: 82nd (2025)
- Founded: July 21, 1994
Capital One Financial Corporation is an American bank holding company headquartered in McLean, Virginia. The company specializes in credit cards, auto loans, banking, and savings accounts.
Capital One ranks as the sixth-largest bank in the United States by total assets and the third-largest issuer of Visa and Mastercard credit cards. The company operates through three segments: Credit Card, Consumer Banking, and Commercial Banking.
With approximately 750 branches including 30 cafe-style locations and 7,000 ATMs across the United States, Capital One conducts business in the U.S., Canada, and the United Kingdom. The company completed its acquisition of Discover Financial Services in May 2025 for $35.3 billion.
Capital One Financial Corporation History
1988
Richard Fairbank and Nigel Morris established a data-driven credit card division at Signet Bank in Richmond, Virginia, using analytics to personalize credit offerings.
1994
Signet Financial Corp announced the spin-off as OakStone Financial on July 21. The company was renamed Capital One in October 1994 following its IPO.
1996
Capital One expanded internationally to the United Kingdom and Canada, accessing larger markets for credit card products.
1998
The company joined the S&P 500 and acquired Summit Acceptance Corporation to enter auto financing.
2005
Capital One acquired Hibernia National Bank for $5.3 billion, marking entry into retail banking and ending its status as a monoline credit card issuer.
2006
Acquired North Fork Bank for $14.6 billion, expanding presence in the northeastern United States.
2012
Completed acquisition of ING Direct USA for $9 billion and HSBC U.S. credit card operations for $31.3 billion, becoming the fifth-largest bank by deposits.
2021
Launched Venture X, a premium travel rewards credit card with airport lounge access and enhanced benefits.
2025
Completed acquisition of Discover Financial Services for $35.3 billion, gaining ownership of the Discover payment network and becoming one of the largest credit card issuers globally.
Capital One Financial Corporation Co-founders
Richard D. Fairbank
Co-founded Capital One in 1988 and serves as Chairman and CEO. He holds an MBA from Stanford Graduate School of Business and has led the company since its founding, forgoing a base salary since 1997.
Nigel Morris
Co-founded Capital One and served as President and COO until 2004. He holds an MBA from London Business School and later founded QED Investors, a venture capital firm focused on fintech companies.
Capital One Financial Corporation Revenue
Capital One Financial Corporation generated $53.94 billion in revenue during fiscal year 2024, a 9% increase from the previous year. The Credit Card segment contributes the largest share of total revenue.
Capital One Annual Revenue (2015-2024) in Billion USD
Capital One Financial Corporation Acquisitions
Capital One expanded from a credit card monoline into a diversified financial institution through strategic acquisitions. The company purchased Hibernia National Bank in 2005 for $5.3 billion, gaining a retail banking presence in Louisiana and Texas.
North Fork Bancorporation followed in 2006 for $14.6 billion, adding branches across the northeastern United States. Chevy Chase Bank came aboard in 2009 for approximately $520 million, strengthening operations in the Washington D.C. metropolitan area.
The 2012 acquisition of ING Direct USA for $9 billion transformed Capital One’s digital banking capabilities. The company rebranded ING Direct as Capital One 360 in November 2012. That same year, Capital One acquired HSBC’s U.S. credit card operations for $31.3 billion, including private label cards for retailers like Saks Fifth Avenue and Neiman Marcus.
Capital One also made technology-focused acquisitions. The company purchased design consultancy Adaptive Path in 2014 and Monsoon in 2015. In 2015, Capital One acquired GE’s healthcare financial services business for approximately $9 billion.
The most significant deal came in May 2025 when Capital One completed its $35.3 billion acquisition of Discover Financial Services. This transaction gave Capital One ownership of the Discover payment network and the Pulse PIN-debit network, creating one of the world’s largest credit card issuers with more than 100 million customers.
Capital One Financial Corporation Market Cap
Capital One Financial Corporation has a market capitalization of approximately $136.66 billion as of February 2026. The company ranks as the 151st most valuable company globally by market cap.
Capital One Market Cap (2015-2024) in Billion USD
Capital One Financial Corporation Competitors
Capital One competes with major banks and credit card issuers in consumer banking, credit cards, and auto lending. JPMorgan Chase holds approximately 17.27% market share in credit cards, followed by American Express at 12.31%.
| Company | Headquarters | Primary Business |
|---|---|---|
| JPMorgan Chase | New York, NY | Banking, Credit Cards |
| American Express | New York, NY | Credit Cards, Financial Services |
| Citigroup | New York, NY | Banking, Credit Cards |
| Bank of America | Charlotte, NC | Banking, Credit Cards |
| Wells Fargo | San Francisco, CA | Banking, Credit Cards |
| U.S. Bancorp | Minneapolis, MN | Banking, Credit Cards |
| Synchrony Financial | Stamford, CT | Consumer Finance |
| Ally Financial | Detroit, MI | Banking, Auto Finance |
| PNC Financial | Pittsburgh, PA | Banking, Financial Services |
| Barclays | London, UK | Banking, Credit Cards |
FAQs
When was Capital One founded?
Capital One was founded on July 21, 1994, when Signet Financial Corp spun off its credit card division. Richard Fairbank and Nigel Morris established the business at Signet Bank in 1988.
Who are the founders of Capital One?
Richard D. Fairbank and Nigel Morris co-founded Capital One. Fairbank remains Chairman and CEO, while Morris left in 2004 to found QED Investors.
Where is Capital One headquartered?
Capital One Financial Corporation is headquartered in McLean, Virginia. The company operates branches primarily in New York, Louisiana, Texas, Maryland, and Virginia.
What is Capital One’s annual revenue?
Capital One generated $53.94 billion in revenue during fiscal year 2024. This represents a 9% increase compared to the $49.48 billion recorded in 2023.
Did Capital One acquire Discover?
Yes, Capital One completed its acquisition of Discover Financial Services in May 2025 for $35.3 billion. The deal gave Capital One ownership of the Discover payment network.
