Capital One, a leading credit card company, has finally completed its $520 million acquisition of Chevy Chase, catapulting Capital One to the largest consumer and commercial bank headquartered in the Washington region.

McLean-based Capital One has $13 billion in deposits, 250 branches and more than 1,000 ATM locations, the largest ATM network in the region.

Last year in December, Capital One announced plans to acquire Chevy Chase Bank, one of the nation's largest credit card issuers for $445 million in cash and $75 million in stock.

Post acquisition, Chevy Chase branches will eventually be rechristened as Capital One Bank, however the bank has not given any specified date for the change.

After the positive announcement, the scrip of Capital One Financial Corporation slipped over 7 per cent to $12.05 on NYSE. The stock touched an intraday high and low of $13.25 and $11.91 respectively.