JPM · 8-K · 20261013PR065616

Credit Costs and Charge-offs

JPMORGAN CHASE & CO · 2026-10-13 · Importance 47 · Surprise 48 · In source text

Firmwide credit costs were $2.7 billion in the third quarter, compared with $3.4 billion in the prior-year quarter. Net charge-offs were $2.2 billion, down $389 million year over year, while the firm recorded a $539 million net reserve build. Consumer & Community Banking credit costs were $2.0 billion, including $2.0 billion of net charge-offs and a $50 million reserve build. Commercial & Investment Bank credit costs were $663 million, including a $452 million reserve build and $211 million of net charge-offs.

Key facts

• 2026 outlook Card Services NCO rate was ~3.2% source
• Net charge-offs for 3Q26 were $2.2B, down $0.2B sequentially and down $0.4B YoY source
• Net reserve build for 3Q26 was $539mm source
• CCB credit costs were $2.0B with NCOs of $1.976B and net reserve build of $50mm source
• 3Q26 credit costs were $2.7B source
• CIB credit costs were $663mm, with net reserve build of $452mm and NCOs of $211mm source

Impact estimates