JPMorgan Drops Most Since 2020 on Plan for Big Spending Hike

Trading-revenue slump, muted loan growth add to stock slide
Bank reports a 1% drop in both commercial and consumer loans

WATCH: JPMorgan Chase & Co. reported fourth-quarter results that saw investment banking revenue rise to $3.21 billion while FICC trading revenue missed estimates.Source: Bloomberg

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By Hannah Levitt

January 14, 2022 at 12:15 PM UTC

Updated on

January 14, 2022 at 8:01 PM UTC

This article is for subscribers only.

JPMorgan Chase & Co. fell the most since 2020 after the company said compensation and other costs jumped in the fourth quarter ahead of an expected surge this year.

Expenses in the last three months of 2021 rose 11% from a year earlier, and the firm said to expect them to rise to about $77 billion this year excluding legal costs, which would be an 8.6% increase. Worse-than-expected trading results and muted loan growth added to pressure on the company’s stock.