Goldman Sachs’ credit card partnership with Apple could end before the contract expires in 2030, Goldman Sachs CEO David Solomon said Wednesday.
“We have a contract with Apple to manage this partnership until 2030, although there is some possibility that it will not continue until that time,” Mr. Solomon told analysts at a conference call on the results.
The Apple Card lowered Goldman’s return on equity by 75 to 100 basis points last year, but “it will improve in 2025 and 2026,” he added.
The business is housed within Goldman’s platform solutions unit, which posted an annual net loss of $859 million in 2024.
-JPMorgan Chase is in talks with Apple to replace Goldman Sachs as the tech company’s credit card partner, Reuters reported in September, citing a source familiar with the matter.
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