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(Reuters) – Capital One Financial on Thursday sailed past estimates for third-quarter profit as the consumer lender charged higher interest rates on loans, sending its shares up more than 4% in extended trading.

A rise in borrowing costs over the past year by the U.S. Federal Reserve has boosted profits at lenders as customers pay higher interest rates on everything from mortgages to their outstanding balances on credit cards.

Capital One’s interest income climbed 6% to $7.42 billion in the quarter, compared with about $7 billion a year earlier.

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