Gold prices edge higher on raised Fed rate cut hopes
Investing.com -- JPMorgan has reaffirmed its net interest income forecast for the full year, maintaining its previous estimate of about $94.5 billion. This figure is in line with Bloomberg’s consensus estimate of $94.59 billion.
The banking giant also continues to see its net interest income, excluding Corporate and Investment Banking (CIB) markets, at around $90 billion.
In terms of expenses, JPMorgan anticipates an adjusted expense of about $95 billion for the year. The bank also provided a glimpse into its long-term plans, revealing a firmwide technology expense outlook of about $18 billion by 2025.
The bank’s slide presentation highlighted the value it sees in investing in data and technology, particularly in the field of Artificial Intelligence (AI). This aligns with the broader trend in the banking sector of leveraging AI for various applications, including risk management and customer service.
JPMorgan also noted that it expects balance sheet growth to partially offset the impact of lower rates.
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