JPMorgan Chase is poised to post a rise in profits for the final quarter of 2024, with volatility around the US election and a rush of bond issuance forecast to boost revenues.
America’s biggest bank by assets is expected to reveal net profits of $11.7bn, up by nearly a third on the same period the previous year, according to analysts surveyed by Bloomberg. The comparison will be flattered by a $2.9bn expense in the fourth quarter of 2023 related to payments made to replenish the US federal deposit insurance fund.
JPMorgan’s Wall Street businesses are forecast to have had a strong fourth quarter, with investment banking revenues up 46 per cent and those for trading rising by 15 per cent. The increases reflect a big jump in trading activity around the US election. The bank is also expected to have benefited from a rush by companies to raise debt on the US bond market.