NEW YORK, May 20 (Reuters) - JPMorgan Chase ( JPM ) on

Monday raised its forecast for net interest income (NII), or the

difference between what it makes on loans and pays out on

deposits, to $91 billion, excluding the markets division.

Shares of the bank rose about 1% in premarket trading ahead

of the bank's investor day event scheduled to kick off in New

York later in the morning.

JPMorgan's ( JPM ) previous forecasts for NII had disappointed

analysts as they were expecting the bank to reap greater

benefits from persistently higher interest rates.

The lender raised its NII forecast in April to $89 billion,

from an earlier $88 billion, excluding the markets division. At

the time, including trading, the company had kept its NII

forecast unchanged at $90 billion.

JPMorgan ( JPM ) acquired billions in loans after it bought the

collapsed First Republic Bank last May. The purchase fueled

interest income and helped propel profits to a record.

Chief Financial Officer Jeremy Barnum had tempered NII

expectations for months, saying the gains were not sustainable.

The bank also expects total expenses in 2024 of about $92

billion, higher than its previous expectations to reflect a $1

billion foundation contribution, it said in an investor

presentation.

With JPMorgan ( JPM ) coming off a year of record profits, investors

are eager to learn about the firm's succession plans,

investments in artificial intelligence and opportunities beyond

traditional banking.

Dimon, 68, has run JPMorgan ( JPM ) for more than 18 years,

outlasting many other CEOs in the banking industry. Also,

several executives, who served under Dimon, have gone on to run

other major financial institutions, making his succession plans

a longtime object of speculation.

Dimon said last year that he could step down in 3.5 years.

JPMorgan's ( JPM ) board recently identified Jennifer Piepszak and

Troy Rohrbaugh, the co-CEOs of its commercial and investment

bank, as candidates for the top job. Marianne Lake, CEO of

consumer and community banking, and Mary Erdoes, CEO of asset

and wealth management, are also in the running.

The stock has risen 20.4% in 2024, outpacing an S&P index of

bank shares as well as the broader equity markets

. It closed at a record high on Friday.

(Reporting by Nupur Anand in New York and Manya Saini in

Bengaluru; editing by Lananh Nguyen and Anil D'Silva)