JPM · 10-Q · 2026Q2 · Full report

Wholesale Credit Costs and NCOs

JPMORGAN CHASE & CO · 2026-08-06 · Importance 20 · Surprise 24

Wholesale nonaccrual loan exposure decreased by $236 million to $4.916 billion at June 30, 2026, primarily because of paydowns, charge-offs and loan sales in SPEs, Individuals, Technology, Media & Telecommunications, Utilities and Healthcare, partly offset by downgrades in Industrials and Oil & Gas. Wholesale net charge-offs declined by $136 million year over year in the second quarter and by $203 million for the six-month period, primarily reflecting lower Commercial and Industrial charge-offs in Technology, Media & Telecommunications and Healthcare, plus lower Real Estate charge-offs. The wholesale net charge-off rate fell to 0.10% from 0.19% for the quarter and to 0.08% from 0.15% for the six months ended June 30, 2025. Average retained wholesale loans increased 14.5% to $809.594 billion for the six months, while the commercial and industrial net charge-off rate declined to 0.17% from 0.41%.

Key facts

• Net charge-offs for the three months ended June 30, 2026: $2,366 million; for the three months ended June 30, 2025: $2,410 million. source
• Net charge-offs for the six months ended June 30, 2026: $4,682 million; for the six months ended June 30, 2025: $4,742 million. source
• Net charge-off rate for the three months ended June 30, 2026 was 0.10% and for the three months ended June 30, 2025 was 0.19%. source
• Net charge-offs for the three months ended June 30, 2026: $2,366 million, versus $2,410 million for the three months ended June 30, 2025 source
• Card Services net charge-offs for the three months ended June 30, 2026: $2,025 million. source
• Wholesale net charge-offs decreased by $136 million for the three months ended June 30, 2026 compared to the same period in the prior year. source
• Wholesale net charge-offs decreased by $203 million for the six months ended June 30, 2026 compared to the same period in the prior year. source
• Net charge-off rate for the three months ended June 30, 2026: 0.66%, compared with 0.73% for the six months ended June 30, 2025 (net charge-off rate comparisons shown) source