JPMorgan Chase (JPM, Financial) anticipates its net interest income for the next year will exceed expectations by approximately $2 billion. Marianne Lake, head of the consumer and community banking division, highlighted that the bank's previous forecast of $87 billion for 2025 net interest income seemed unrealistic, but stabilized interest rates have improved the outlook.
Additionally, investment banking fees in the fourth quarter are expected to rise by about 45% compared to last year, surpassing analyst predictions. Trading revenue for the last three months of 2024 could increase by 15% or more. The bank's expenses next year might exceed current estimates by $1 billion.
Meanwhile, Citigroup's (C) CFO Mark Mason noted that their net interest income for this year is also poised to surpass expectations, with 2024 projections reaching the high end of $80-81 billion.
