NEW YORK (Reuters) – Goldman Sachs’ credit card partnership with Apple could end before its contract expires in 2030, Goldman CEO David Solomon said on Wednesday.

“We have a contract with Apple to run this partnership through 2030, although there is some possibility that it may not continue through that time frame,” Solomon told analysts on an earnings call.

Apple’s card dragged Goldman’s return on equity by 75 to 100 basis points last year, but “that will improve in 2025 and 2026,” he added.

The business is 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 technology company’s credit card partner, Reuters reported in September, citing a source familiar with the matter.

(Reporting by Saeed Azhar and Noor Zainab Hussain, Editing by Lananh Nguyen and Rod Nickel)