It depends what you mean by bearing capacity. Plastic deformation increases yield strength at the expense of ductility. Also possibly toughness and fatigue durability if strained too much.
Metals virtually always exhibit increased yield strength when strained plastically below their strain recovery temperatures. The phenomenon is referred to as strain hardening, and is important in a number of product and processing applications as another tool for tailoring material properties. The increase yield strength comes with a number of drawbacks, the most readily apparent of which is reduced elongation at failure. There is a tradeoff between yield strength amd ductility. Additionally, too much plastic strain with no recovery or annealing can result in the formation of voids, microcracks, and other microscopic, volumetric defects. Volumetric defects provide crack nucleation sites when dynamically loaded and accelerate failure in dynamic fatigue, as well as creating stress concentration sites which can reduce durability and toughness eve after annealing.
The image below shows the effects of cold work on strength, hardness, and ductility. Note that as cold work increases to the right, strength and hardness increase, while ductility decreases. While the plot is for a specific metal, the curve shapes apply broadly.