JPMorgan says charge-offs in card portfolio could be higher in 2026

NEW YORK (Reuters) - JPMorgan Chase said on Monday that it was estimating the card services net charge-off rate, which represents the proportion of credit card debt the bank does not expect to collect, to be between 3.6% and 3.9% for 2026.

That is higher than the 3.6% net charge-off rate the bank is expecting for 2025, it said on Monday.

Corporate executives have been wary about the current economic outlook, with JPMorgan CEO Jamie Dimon warning last week that a recession could not be ruled out.

At the bank's investor day on Monday, shareholders and analysts will be keen to learn how the largest U.S. lender is likely to be impacted by U.S. tariffs and a slowing economy.

The bank kept its outlook for 2025 unchanged for spending and net interest income - the difference between what banks pay customers on deposits and earn as interest on loans - in a presentation ahead of its investor day.

(Reporting by Nupur Anand in New York and Niket Nishant in Bengaluru; Editing by Anil D'Silva)