Seventh-largest U.S. bank holding company by asset size, with sizable market positions in credit cards and auto loans Multiyear track record of building its franchise through mergers and acquisitions, resulting in enhanced business line and geographic diversification Significant investments in digital infrastructure to strategically position the company for the future High concentration in unsecured consumer lending Potential headwinds to asset quality from the company's credit card or auto loan portfolio, or specific segments in the commercial loan portfolio Expected high payout ratio, which limits capital accretion S&P Global Ratings' stable rating outlook on Capital One Financial Corp. (Cap One) incorporates our expectations of continued strong profitability, within the context of weakening credit performance. We expect asset quality to deteriorate, though
