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JPMorgan posts higher profit; shares dip on net interest income view

Reuters 

By David Henry and Sweta SinghREUTERS - JPMorgan Chase & Co reported a better-than-expected quarterly profit on Friday due to strong loan growth and higher interest rates, but said net interest income for the year would be lower than expected, sending its shares down about 2 percent.The bank's borrowing business increased across residential mortgages, business loans, credit cards, and even auto loans, an area where some lenders have been pulling back.However, on a call with analysts, Chief Financial Officer Marianne Lake said net interest income for the full year would increase by $4 billion, ...

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First Published: Wed, July 19 2017. 21:30 IST
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