financetom
Business
financetom
/
Business
/
JPMorgan Chase expects investment banking fees to be up by 45% in Q4
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
JPMorgan Chase expects investment banking fees to be up by 45% in Q4
Dec 10, 2024 11:11 AM

NEW YORK (Reuters) - JPMorgan Chase ( JPM ) investment banking fees are expected to rise by 45% in the fourth quarter over a year ago, Marianne Lake, the bank's CEO of consumer and community banking, said on Tuesday.

Trading fees are likely to jump by 15% in the fourth quarter, she told investors at the Goldman Sachs Financial Services conference in New York.

In the third quarter, investment banking fees surged 31%, more than double the previous 15% guidance. Lake also expects net interest income - the difference between what the bank earns on loans and pays on deposits - to be higher by $2 billion compared with estimates.

"The rate outlook has firmed up on average, about 40 basis points higher in 2025 than it was earlier," Lake said, while noting that there are "plenty of caveats about the fact that these things can change pretty quickly."

"Our 2025 NII, we're expecting it to be about $2 billion higher," she added.

Gains in investment banking and rising interest payments helped JPMorgan ( JPM ) post a third-quarter profit that beat expectations.

Lake is a potential candidate to succeed CEO Jamie Dimon, who has run JPMorgan ( JPM ) since 2006. Other contenders include Jennifer Piepszak and Troy Rohrbaugh, co-CEOs of JPMorgan's ( JPM ) commercial and investment bank, and Mary Erdoes, who heads the asset and wealth management businesses.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Atlas Energy Solutions to Acquire Moser Acquisition for $220 Million
Atlas Energy Solutions to Acquire Moser Acquisition for $220 Million
Jan 27, 2025
07:20 AM EST, 01/27/2025 (MT Newswires) -- Atlas Energy Solutions ( AESI ) said Monday it has signed a definitive deal to acquire Moser Acquisition, which provides distributed power solutions, from a Hilltop Holdings ( HTH ) unit in a $220 million cash-and-share transaction. Atlas said it will pay $180 million in cash and issue 1.7 million shares, valued at...
Discovery Silver to acquire Newmont's stake in Porcupine Operations for $425 mln
Discovery Silver to acquire Newmont's stake in Porcupine Operations for $425 mln
Jan 27, 2025
Jan 27 (Reuters) - Discovery Silver ( DSVSF ) said on Monday it would acquire Newmont's ( NEM ) 100% stake in Porcupine Operations in Ontario, Canada, for $425 million. (Reporting by Tanay Dhumal in Bengaluru: Editing by Anil D'Silva) ...
Mustang Energy Secures Exploration Permits for Two Projects in Saskatchewan
Mustang Energy Secures Exploration Permits for Two Projects in Saskatchewan
Jan 27, 2025
07:22 AM EST, 01/27/2025 (MT Newswires) -- Mustang Energy ( MECPF ) said over the weekend that it secured exploration permits to launch ground-based exploration activities at the Roughrider South and Cigar Lake East projects in Saskatchewan's Athabasca Basin. The permits, which are valid until September 2027, allow trail construction, line-cutting, ground geophysical surveys and diamond drilling. Mustang said it...
Ermenegildo Zegna's Q4 Revenue Increases
Ermenegildo Zegna's Q4 Revenue Increases
Jan 27, 2025
07:20 AM EST, 01/27/2025 (MT Newswires) -- Ermenegildo Zegna ( ZGN ) reported Q4 revenue Monday of 589.2 million euros ($619.4 million), up from 570.4 million euros a year earlier. Analysts' estimates were unavailable for comparison. Shares of Ermenegildo Zegna ( ZGN ) were up over 4% in recent premarket activity Monday. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved