JPMorgan Chase & Co. presented a more optimistic profit forecast on Monday as it opened an investor conference to relieve worries that the biggest U.S. bank by assets might be starting to lose its edge.
Investors are keeping an eye on the prospects for banks to increase their net interest income, or the difference between income from loans and interest paid on deposits and other funds, as they benefit from higher interest rates.
JPMorgan said it now expected net interest income (NII), excluding markets, of $56 billion in 2022.
The bank earlier forecast NII outside of its market business to reach a “couple billion” more than $53 billion in 2022, up from its $50 billion outlook in January….