07:35 AM EDT, 07/11/2024 (MT Newswires) -- JPMorgan Chase ( JPM ) aims to capture 15% of US consumer deposits, up from its 11.3% share as of June 2023, Reuters reported Thursday, citing Chief Executive of consumer and community banking Marianne Lake.

The company also targets to increase its credit card spending share to 20% from the current 17%, Reuters said.

"Market share is a game of inches, and it is a very powerful game," Lake told Reuters. "While we are not putting any timeline on it, our strategies are geared towards achieving it."

The bank's US retail deposits totaled $1.1 trillion in Q1, and overall deposits including wholesale reached $1.96 trillion, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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