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.”