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JPMorgan Chase raises key revenue target to $84 billion after First Republic takeover
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cnbc.comIn this article JPMorgan Chase raised a key performance target on the heels of its government-brokered takeover of First Republic earlier this month.
The bank will generate about $84 billion in net interest income this year, the New York-based bank said Monday in slides for an all-day investor presentation.
That's $3 billion higher than guidance given in April. At the time, JPMorgan raised its net interest income outlook by $7 billion, a move that spurred JPMorgan's biggest earnings-day stock bump in 20 years.
The bank added that «sources of uncertainty» around deposits and the economy could impact its forecast. Net interest income is the difference between what banks earn from loans and investments and what they pay to depositors.
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