JPMorgan Chase is poised to post profit growth in the final quarter of 2024, amid volatility around the US election and a forecast of a surge in bond issuance to boost revenue.
The largest U.S. bank by assets is expected to post a net profit of $11.7 billion, up nearly a third from the same period last year, according to analysts polled by Bloomberg. The comparison will be complimented by a $2.9 billion charge in the fourth quarter of 2023 related to payments to top up the US Federal Deposit Insurance Fund.
JPMorgan’s Wall Street business is forecast to have a strong fourth quarter, with investment banking revenue up 46 percent and trading revenue up 15 percent. The increases reflect a big jump in trading activity around the US election. The bank is also expected to benefit from the rush of companies to borrow on the US bond market.
