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JPMorgan Chase expects investment banking fees to be up by 45% in Q4
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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.

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