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NEW YORK (Reuters) – JPMorgan Chase & Co said on Monday its net interest income would rise by $3 billion this year, thanks to its purchase of failed First Republic Bank, according to a presentation published ahead of its investor day on Monday.
The largest U.S. lender agreed to undertake $173 billion of the failed bank’s loans, $30 billion of securities and $92 billion of deposits after First Republic was shuttered by authorities earlier this month.
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JPMorgan, which emerged as one of the biggest beneficiaries of the recent banking crisis due to an influx of deposits from customers who sought safety in larger institutions, maintained a return on tangible common equity of 17%.
(Reporting by Nupur Anand and Lananh Nguyen in New York and Mehnaz Yasmin in Bengaluru; Editing by Saumyadeb Chakrabarty)
Woke & Liberal News is Fake News
You will find it on:
CNN - CBS - MSNBC - ABC - The New York Times - The Washington Post - Facebook - Twitter and more
They ALL SUCKS and simply DO NOT tell you the truth PERIOD
WARNING! If you usually get your news from one of these so-called "News Services" Welcome to you, but be prepared for big surprises!
eg. 2+2 is not 5 or 22 but 4 - There is not 57 different genders, only 2
KNOWLEDGE is POWER / REAL NEWS is KEY
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