JP Morgan Chase & Co presented a more optimistic profit outlook as it launched an investment conference to allay concerns that it may begin to lose its advantage.
JP Morgan, the largest US bank based on assets, in the presentation confirmed the target for a return on tangible equity to 17% and stressed that it can achieve it in 2022.
The bank also said it expects net interest income at $ 56 billion in 2022 and kept spending estimates unchanged at $ 77 billion.
JP Morgan announced in January that it would allow spending to rise 8% (or $ 6 billion) this year as it financed business investments that did not convincingly invest investors, and the stock fell 6% in a session.
Since then, JP Morgan has raised its outlook for net interest income, which could cover more than the new expenses, saying that net interest income could be about $ 2 billion higher than $ 53 billion in 2022. against estimates in January for $ 50 billion.
Source: Capital
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