August 27, 2019 / 2:27 PM / 3 months ago

JPMorgan considers sale of $1 billion AARP credit-card portfolio: Bloomberg

FILE PHOTO: A J.P. Morgan logo is seen in New York City, U.S., January 10, 2017. REUTERS/Stephanie Keith

(Reuters) - JPMorgan Chase & Co (JPM.N) is looking to sell the credit-card portfolio it built through a partnership with the nonprofit AARP, Bloomberg reported on Tuesday, citing people familiar with the matter.

The sale would include about $1 billion in credit-card receivables, according to the report.

Alliance Data Systems Corp (ADS.N) is among those interested in the portfolio, Bloomberg reported.

JPMorgan, Alliance Data and AARP were not immediately available for comment.

Reporting by Bharath Manjesh in Bengaluru; Editing by Anil D'Silva

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