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However, in their annual Investor Day speech, their executives outlined a vision of stable financial performance over the next three years and maintained key profit targets unchanged.
Finance Chief Marianne Lake said that while JPMorgan Chase has been strong in many areas of business, the bank is uncertain whether interest rates and the near future of the U.S. economy can provide potential power to boost its profit targets.
According to Barclays analysts'estimates, JPMorgan Chase accounts for about 14% of U.S. banking revenue. Therefore, its annual investor day has attracted much attention from investors.
Lake said it expects deposit business growth to slow and deposit interest to rise, reducing its lending profitability. At the same time, the new regulatory measures have led to lower profits on these loans, pushing the bank to invest more in the securities business.
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