JPMorgan Takes Over Apple's Credit Card Partnership From Goldman Sachs
JPMorgan Chase has completed its acquisition of Apple's credit card partnership from Goldman Sachs, finalized in January 2026. The deal resulted in a $2.2 billion provision for credit losses, reducing JPMorgan's Q4 2025 profit to $13 billion. Despite this, the acquisition marks a strategic expansion for JPMorgan under CEO Jamie Dimon.
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JPMorgan Chase & Co. has successfully completed its acquisition of Apple Inc.'s credit card partnership from Goldman Sachs Group Inc. , marking a significant shift in the credit card industry. Finalized in January 2026, the deal sees JPMorgan becoming the new issuer of the Apple Card, a strategic move under the leadership of CEO Jamie Dimon jamie dimon.
The acquisition had an immediate financial impact on JPMorgan's fourth-quarter 2025 earnings. The bank recorded a one-time $2.2 billion provision for credit losses associated with the Apple Card portfolio. This provision reduced the reported quarterly profit to $13 billion, or $4.63 per share, compared to $14 billion, or $4.81 per share, in the same period the previous year. Excluding the one-time charge, JPMorgan's underlying operational profit was a robust $14.7 billion, or $5.23 per share, highlighting the company's strong performance despite the acquisition costs.
