Daniel Pinto, chief executive of corporate and investment banking at JPMorgan Chase.
Simon Dawson | Bloomberg | Getty Images
JPMorgan Chase On Tuesday, the bank’s president told analysts that expectations for net interest income were too optimistic, sending the bank’s shares down 7%.
JPMorgan Chase President Daniel Pinto told an audience at a financial conference that the current estimate of $89.5 billion for NII, one of the main ways banks make money, is too high given interest rate expectations.
The number “will be lower,” he said.
It was the New York-based bank’s worst drop since June 2020, according to FactSet data.
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