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$JPM (+0.2% pre) JPMorgan aims to amass 15% of US consumer deposits, boost credit card share - Reuters https://t.co/r7UhZBgJHF
The biggest US bank wants to get even bigger. JPMorgan Chase has set an ambitious goal of attracting 15% of the country's consumer deposits, Marianne Lake, its CEO of consumer and community banking, told Reuters https://t.co/TrQzPoWYbs
“JPMorgan Chase $JPM has set an ambitious goal of attracting 15% of the country's consumer deposits, up from an 11.3% share at the end of June 2023. The lender also wants to provide credit cards that account for 20% of the nation's spending, expanding from a current 17%.” https://t.co/ySWRxE8IZB
JPMorgan Chase has outlined ambitious growth targets during its Investor Day 2024. The bank aims to increase its share of US consumer deposits to 15%, up from 11.3% as of June 2023. Additionally, JPMorgan plans to boost its credit card market share to 20% from the current 17%. The bank's payments business generated over $18 billion in revenue in 2023, with 90% coming from Treasury Services, where it holds the top position. JPMorgan also highlighted its dominance in Investment Banking, having been ranked #1 in fees for 15 years. The bank serves over 75,000 clients and operates in 225 cities across more than 45 countries. Marianne Lake, CEO of consumer and community banking, emphasized these goals.
