The Bank Slate


JPMorgan Chase: First Republic adding $3B of revenue in ’23

JPMorgan Chase in New York projected that net interest income should increase by $3 billion because of its purchase of the failed First Republic Bank.

The $3.7 trillion-asset company said in a disclosure in slides for its investor day that it expects to generate $84 billion of net interest income this year. It had previously forecast $81 billion.

JPMorgan Chase agreed earlier this month to buy $173 billion of loans, $92 billion of deposits and $30 billion of securities once held by First Republic.

The slide acknowledged that “sources of uncertainty remain.”

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