JPMorgan Chase & Co on Tuesday maintained its key profit goal for the next three...
NEW YORK - JPMorgan Chase & Co on Tuesday maintained its key profit goal for the next three years, but its chief financial officer warned the forecast does not reflect significant risks that could speed the beginning of a U.S. recession.
The bank may exceed its key growth targets, Lake said, but the bank’s estimates take a cautious view of future risks. The bank’s outlook dimmed for profits from its corporate & investment bank unit, with a turn on equity of 16 percent, down from a 17 percent target a year ago, according to the slide presentation. The investment bank provided one-third of JPMorgan’s revenues in 2018.
Targeted return on equity remained unchanged at 25 percent for consumer and community banking, and 18 percent for commercial banking.
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