They’ve lost $5.36 billion on bad loans — but customers are still paying their debts.
In Q2 2025, the three banks reported billions of dollars in losses from “net charge-offs” — loans written off after payments failed. JPMorgan Chase led with $2.4 billion, driven by bad credit card debt. Citi wiped $2.234 billion, including $1.889 billion tied to retail cards. Wells Fargo recorded $977 million in net charge-offs, fueled by $818 million in sour consumer loans.
The Fed showed credit card balances hit $1.18 trillion by March 2025. Despite losses, Citi saw a $225 million decline, while Wells Fargo dropped $12 million in charge-offs. However, JPMorgan increased its charge-offs by $179 million over three months. Meanwhile, earnings rose for all three banks — JPMorgan, Citi, and Wells Fargo — with figures totaling $15B, $4B, and $5.5B respectively.
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2025-07-19 10:21