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JPM CFO Headlines: Weak IB Revenues, Solid Credit

FINANCIALS

JPMorgan CFO (JPM US) speaking at a conference, looks minor negative for the major IBs (MS, GS) but more credit neutral around CRE:


  • Board is taking succession very seriously.
  • Doesn't expect office loan space within commercial real estate to get better any time soon.
  • Says we don't have large concerns around multi-family loans in New York portfolio.
  • Expects card loan growth to be less robust than last year at 12%.
  • Expects deposit migration to money market funds to continue.
  • Expects investment banking fees to rise in low-to-mid teens percentage in 1Q.
  • Says IPO market is a bit weaker than expected.
  • Sees trading revenue declining 5%-10% in 1Q versus strong quarter last year.
USCredit BulletsHomepagemarkets-real-timeCreditBulletJPMorgan Market News
USCredit BulletsHomepagemarkets-real-timeCreditBulletJPMorgan Market News

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