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JPMorgan Posts Record Net Interest Income on Fed Rate Hikes

  • Bank ups guidance for full-year NII as profit tops estimates
  • CEO Jamie Dimon says consumers, businesses remain healthy
Bloomberg business news
WATCH: JPMorgan Chase & Co. reported third-quarter results that saw stronger than expected investment banking revenue.Source: Bloomberg
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JPMorgan Chase & Co. reported its highest quarterly net interest income ever and raised its guidance for the year as the biggest US bank reaps rewards from the Federal Reserve’s interest-rate hikes.

The firm generated $17.6 billion in third-quarter NII, the money it earns on loans minus what it pays out for deposits. Expenses also came in lower than analysts expected, driving a profit beat.