JPMorgan lifts interest income forecast after profit beat in Q2
JPMorgan Chase raises net interest income forecast for 2025 after strong performance in its investment banking and trading divisions helped it surpass profit expectations for the second quarter
Print17 July 2025
JPMorgan Chase has raised its net interest income forecast for 2025 after a strong performance in its investment banking and trading divisions helped it surpass profit expectations for the second quarter.
The bank now expects an estimated $95.5 billion (€82.5 billion) of NII, or the difference between what it earns on loans and pays out on deposits, compared with an earlier estimate of $94.5 billion (€81.5 billion).
CEO Jamie Dimon stated on the matter: “The US economy remained resilient in the quarter.
“The finalisation of tax reform and potential deregulation are positive for the economic outlook.
“However, significant risks persist – including from tariffs and trade uncertainty, worsening geopolitical conditions, high fiscal deficits, and elevated asset prices.”
Dimon went on to add: “Earlier this month, we announced that the Board intends to increase our common dividend for the second time this year, resulting in a 20% cumulative increase compared with the fourth quarter of 2024.”
Market Activity
Investors are closely scrutinizing the banks’ results and their executives’ commentary this quarter to assess the impact of tariffs and the tax and spending bill Trump signed into law earlier this month.
Market activity surged as investors seized opportunities and hedged risks in response to shifting US tariff policies.
The turmoil propelled JPMorgan’s trading revenue 15% higher to $8.9 billion (€7.6 billion), driven by gains in both fixed income and equities.
Investment banking fees rose 7% to $2.5 billion (€2.1 billion), underpinned by a rise in initial public offerings and mergers and acquisitions.
Overall profit came out to $14.99 billion (€12.9 billion), or $5.24 (€4.52) per share, for the three months ended June 30, compared with $18.15 billion (€15.6 billion), or $6.12 (€5.28) per share a year earlier.
The comparisons were skewed by a nearly $8 billion (€6.9 billion) one-off gain the bank had recorded on a share exchange agreement with Visa last year.
Excluding one-off costs, JPMorgan earned $4.96 (€4.28) per share, compared with the $4.48 (€3.86) per share that analysts were expecting, according to estimates compiled by the London Stock Exchange Group.
Read more: Consumer spending remains robust in June
© 2025, ShelfLife by Peter Murphy
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