JPMorgan's First Republic takeover leads to $3 billion boost in net interest income.
TL;DR
JPMorgan Chase & Co expects its net interest income to rise to $84 billion from higher interest payments in 2023, increasing an earlier forecast of $81 billion, after it bought First Republic Bank. Integration costs from the deal will add $3.5 billion to its expenses this year, adding to an earlier forecast of $81 billion. The bank also restated its 17% target for return on tangible common equity.
Topics:businessfinance#finance#first-republic-bank#integration-costs#jpmorgan#net-interest-income#return-on-tangible-common-equity
- JPMorgan sees $3 bln net interest income boost from First Republic deal Reuters
- JPMorgan Chase raises key revenue target to $84 billion after First Republic takeover CNBC
- JPMorgan’s Succession Plans for Jamie Dimon May Weigh on Investors The New York Times
- JPMorgan's $3 billion bump from First Republic Yahoo Finance
- JPMorgan raises revenue forecast amid First Republic takeover Yahoo Finance
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