Banks have been pocketing the extra money they have made from higher interest rates. Now investors will see if they built up enough for tougher times ahead.
JPMorgan Chase third-quarter net interest income, which is driven by both rising rates and growing loan books, was about a third higher than a year ago. Thanks in part to the Federal Reserve’s recent interest-rate increases, JPMorgan raised its 2022 forecast for net interest income revenue, excluding its volatile markets unit, to about $61.5 billion, up from $58 billion.
