JPMorgan Chase could be one of the strongest payrolls, according to CEO Jamie Dimon, helping to reduce debt and declining bank sales.
“Investing banking, may be one of the best investments we’ve ever seen,” Dimon said Monday at a conference Morgan Morganley held.
“I can only use the same amount of 20 percent last year [and] quarter before. It can be 15-20%. The purpose of this is to have major events that can or will not be closed. ”
Since the middle of last year, Wall Street banks have benefited from a wide range of connectivity and acquisition services. This is driven by the growth of private equity firms, the growing market capitalization that seeks deals with buyers of large corporate financial institutions, as well as a strong market for credit and fundraising.
JPMorgan is currently the world’s leading retailer, according to Refinitiv, with more than $ 5.5bn a year to date, starting at $ 3.98bn a year ago. The bank also increased its interest rate to 8.3% from 7.5%.
Dimon warned that the recent rise in financial and payrolls has slowed down in the region.
“Last year’s quarter was special. The last part was special. This quarter is what I call normal, ” Dimon He said.
He predicted that the bank would see revenue from sales in the coming quarter of “a little north of $ 6bn, which is still very good”.
Another area of concern for banking businesses and those under review is the low growth rate, which banks have sold out of the market due to overcrowding from US government-sponsored products and services. Settlements.
Dimon said the bank began to see “just a little bit” of the size of the debt. He also said that in the end it will come to the US economy.
Dimon also used his appearance at the meeting to reduce JPMorgan’s prediction for the 2021 payout, which comes from interest-bearing factors, to $ 52.5bn from about $ 55bn in the past, which he admitted was “slightly disappointing”.
JPMorgan report for second phase on July 13. Its Profits grew five times in the first phase.
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