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JPMorgan profit rises 6% in Q1; shares decline after NII miss
Business Standard|April 13, 2024
JPMorgan Chase's profit rose 6 per cent in the first quarter, although its shares dropped after the bank's forecast for its income from interest payments came in below analysts' expectations.
JPMorgan profit rises 6% in Q1; shares decline after NII miss

High borrowing costs have helped lenders boost net interest income (NII), or the difference between what banks earn on loans and pay out for deposits. JPMorgan, the biggest US bank by assets, also added billions of dollars of loans to its balance sheet after acquiring failed First Republic Bank in May last year, fueling its interest income further.

Chief executive officer Jamie Dimon, however, stuck to his cautious tone, despite growing optimism in the last several months about a soft landing for the economy.

Denne historien er fra April 13, 2024-utgaven av Business Standard.

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JPMorgan profit rises 6% in Q1; shares decline after NII miss
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Denne historien er fra April 13, 2024-utgaven av Business Standard.

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