JPMorgan dominates earnings season with record deposits and steady headcount.

1 min read
Source: Reuters
JPMorgan dominates earnings season with record deposits and steady headcount.
Photo: Reuters
TL;DR Summary

JPMorgan Chase & Co gained $50 billion in deposits at the end of March, as the sudden collapse of two U.S. regional banks in March drove customers to move their money to bigger lenders. Citigroup's deposits were largely flat, while Wells Fargo saw a decline in deposits. JPMorgan's finance chief expects modest outflows in deposits for the rest of the year. Industry-wide consumer deposits are expected to decline over the next several months due to inflation and a looming recession.

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