The company's provision for credit losses declined to $762 million during the second quarter from $885 million in the first quarter, directly boosting pre-tax earnings.
Second-quarter noninterest income was $1.805 billion, increasing from $981 million the previous quarter, with interchange fees on debit card purchases increasing to $486 million from $445 million in the first quarter.
Noninterest expense rose to $3.059 billion in the second quarter from $3.028 billion the previous quarter.
Capital One CEO Richard Fairbank said in the company's earnings release that "We delivered solid performance across each of our businesses during the quarter, and we continue to generate significant capital," adding the company would "continue to tightly manage costs and credit quality, drive resilient growth in businesses we are emphasizing, and focus on returning capital to our investors to deliver sustained shareholder value."Capital One reported a Basel I tier 1 common equity ratio of 12.1% as of June 30, and said its estimated Basel III Tier 1 common equity ratio was above its "assumed target" of 8.0%. Capital One's shares were up 1.4% in after-market trading, to $67.05. COF data by YCharts
Interested in more on Capital One? See TheStreet Ratings' report card for this stock.
Email. Follow @PhilipvanDoorn -- Written by Philip van Doorn in Jupiter, Fla. >Contact by Email. Follow @PhilipvanDoorn
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