JP Morgan took a profit hit to set aside money to run Apple Card

Syndication January 14, 2026

JP Morgan took a profit hit to set aside money to run Apple Card

JP Morgan Chase’s Q4 profits dropped 7%, chiefly because of it starting the funding process to take over running Apple Card.

Apple Card is moving to JP Morgan Chase

After years of Goldman Sachs losing money on the Apple Card, JP Morgan Chase has taken over the deal, and consequently taken a hit to its profits.

According to the Wall Street Journal, JP Morgan Chase’s profits fell 7% to $13 billion, for the fourth quarter of 2025. There were reasons including an unexpected fall in investment banking fees, but the single largest issue was Apple Card.

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JP Morgan took a profit hit to set aside money to run Apple Card