JPMorgan Boosts Forecast Even as Dimon Warns of Global Risks
- CEO says the world ‘may be the most dangerous’ in decades
- Shares of the bank surge by the most in almost six months
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JPMorgan Chase & Co. posted another quarter of record net interest income and boosted its forecast for the year as the company benefits from higher interest rates and its purchase of First Republic Bank.
The biggest US bank also reduced its reserves for loan losses even as Chief Executive Officer Jamie Dimon warned that the economic outlook was getting cloudier, especially given rising geopolitical risks with wars raging in Ukraine and the Middle East.