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JPMorgan Chase Reported Strong Growth in Core Banking

Andrew Brunton
JPMorgan Chase Reported Strong Growth in Core Banking

JPMorgan Chase’s (JPM) Consumer and Community Banking segment has risen at a relatively faster pace due to higher interest rate spreads. The division posted revenues of $13.3 billion in the fourth quarter—10.4% growth on a YoY (year-over-year) basis and 6.3% sequentially. The bank’s higher revenues were mainly driven by increased net interest income due to higher deposit margins and loan expansion across the card, merchant services, and auto lease volumes. The higher revenues were partially offset by softness in home lending.