Goldman Sachs CEO David Solomon referred to as his financial institution’s rollout of the Apple Card “essentially the most profitable bank card launch ever.” CNBC reviews:
Solomon offered buyers with an replace on the financial institution’s new initiatives in the beginning of a convention name Tuesday.
“In three brief years, we’ve raised $55 billion in deposits on the Marcus platform, generated $5 billion in loans, and constructed a brand new credit-card platform and launched Apple Card,” Solomon stated, including “which we consider is essentially the most profitable bank card launch ever.”
Persevering with on the Apple Card, which the financial institution inbuilt partnership with the iPhone maker, Solomon stated that “since August, we’ve been happy to see a excessive stage of client demand for the product. From an operational and danger perspective, we’ve dealt with the inflows easily and with out compromising our credit score underwriting requirements.”
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