JPMorgan's First Republic takeover leads to boosted revenue and income outlook.
TL;DR
JPMorgan Chase has raised its net interest income target to $84 billion for this year, $3 billion higher than its previous guidance in April, following its takeover of First Republic. The bank also disclosed that expenses would rise to $84.5 billion, excluding $3.5 billion in costs to integrate First Republic. However, the bank warned that "sources of uncertainty" around deposits and the economy could impact its forecast.
Topics:businessfinance#expenses#finance#first-republic#jamie-dimon#jpmorgan-chase#net-interest-income
- JPMorgan Chase raises key revenue target to $84 billion after First Republic takeover CNBC
- JPMorgan eyes 'special branches' for rich First Republic customers Business Insider
- JPMorgan forecasts $3 billion jump in annual NII after First Republic deal Yahoo Finance
- JPMorgan boosts income outlook following First Republic deal Financial Times
- JPMorgan Boosts Net Interest Outlook on First Republic Deal Bloomberg
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