1. J.P. Morgan Chase, the largest bank in the US, reported revenue of US$50.2 billion and net profit of US$15.3 billion. Both figures fell short of analysts' expectations. 2. This was mainly dragged down by a 4% year-on-year decline in fixed income transaction revenue; while stock trading revenue surged 49% year over year, the second-highest quarterly performance in history, mainly due to the strong business of major brokers serving hedge fund clients. 3. The bank raised its guidance for the full year of FY2026, raising net interest income to US$106.2 billion and expenditure to US$108.6 billion. 4. Analysts are particularly concerned about how the bank views intelligent AI and investment in this technology. Bank executives said that the bank's current focus is on protecting customer safety, but at the same time, it is also spending a lot of time thinking about how to use AI agents. 5. CEO Jamie Dimon said that the bank is “slightly tightening credit standards” and that some credit terms have become “too loose.” He said the bank felt that it no longer needed to “chase this kind of business.”
Zhitongcaijing · 2d ago
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1. J.P. Morgan Chase, the largest bank in the US, reported revenue of US$50.2 billion and net profit of US$15.3 billion. Both figures fell short of analysts' expectations. 2. This was mainly dragged down by a 4% year-on-year decline in fixed income transaction revenue; while stock trading revenue surged 49% year over year, the second-highest quarterly performance in history, mainly due to the strong business of major brokers serving hedge fund clients. 3. The bank raised its guidance for the full year of FY2026, raising net interest income to US$106.2 billion and expenditure to US$108.6 billion. 4. Analysts are particularly concerned about how the bank views intelligent AI and investment in this technology. Bank executives said that the bank's current focus is on protecting customer safety, but at the same time, it is also spending a lot of time thinking about how to use AI agents. 5. CEO Jamie Dimon said that the bank is “slightly tightening credit standards” and that some credit terms have become “too loose.” He said the bank felt that it no longer needed to “chase this kind of business.”
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