JPMorgan Posts Record Net Interest Income and Predicts Even More for This Year
- Expense jump of 29% was more than analysts predicted
- Dimon says inflation may be stickier than investors expect
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JPMorgan Chase & Co. closed out the most profitable year in US banking history with its seventh consecutive quarter of record net interest income and a surprise forecast that the windfall may continue this year.
NII — the difference between what banks earn on loans and pay out on deposits — came in at $24.2 billion in the final three months of the year, the company said in a statement Friday. The haul for all of 2024 may rise to about $90 billion, according to the bank, while analysts had been expecting a 2% drop.