JPMorgan expects mid‑to‑high‑teens growth in Q3 investment banking fees and trading revenue

Co‑President Doug Petno said at a Barclays conference that deal activity and markets activity are robust, supporting mid‑to‑high‑teens growth expectations for Q3 investment banking fees and trading revenue, a notable positive signal for JPMorgan’s capital‑markets businesses.

In this brief: 3 sections 2 min read

- Mid‑to‑high‑teens year‑over‑year expected growth for investment‑banking fees.
- Mid‑to‑high‑teens year‑over‑year expected growth for markets (trading) revenue.
- Petno noted the Q3 outlook includes a seasonal sequential decline from Q2’s record level in markets.
- Comments delivered at the Barclays Global Financial Services Conference.
- Deal activity described as "robust" across products and geographies.
- Management cited a strong pipeline and continued M&A and financing activity.
- Petno said clients remain resilient despite geopolitical and macro uncertainty.
- Petno noted the CIB generates more than $5 billion in quarterly revenue from payments and processes roughly $12–13 trillion in payments daily.
- He said CIB nonperforming loans were below $5 billion and Q2 net charge‑offs were about 12 basis points.
- JPMorgan’s CIB produced elevated returns in recent periods, supporting management confidence.

Read full analysis on reuters.com

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