JPMorgan (JPM) intends to grow its corporate banking team across Asia next year to capitalize on increasing business prospects from intra-Asia trades, the innovation economy and payment services. This was stated by Oliver Brinkmann, Asia-Pacific co-head of global corporate banking at the company, in an interview with South China Morning Post.Details About JPM’s Strategic ExpansionBrinkmann said, “We aim to add 10 percent headcount to the corporate banking team across Asia next year.”The increased headcount ...

JPMorgan (JPM) , the nation’s largest bank in terms of total assets and branch network, continues to leverage its scale and market share to garner more business. The company, with a presence in almost all segments of financial services, is a banking behemoth.JPMorgan has set its sights on global expansion, with plans to grow its presence in Africa and the Asia Pacific regions. Also, in February, the company announced plans to open more than 500 branches and renovate roughly 1,700 locations by 2027. As of Ju ...

Jamie Dimon, Chairman and Chief Executive officer (CEO) of JPMorgan Chase & Co. (JPM) speaks to the Economic Club of New York in Manhattan in New York City, U.S., April 23, 2024.A year after Jamie Dimon named geopolitics as the world's biggest risk, JPMorgan Chase's CEO sounded the alarm again, warning that the state of global stability has gotten worse.During his visit to India, Dimon said in an exclusive interview with CNBC-TV18 released Tuesday: "My caution is all geopolitics, which may determine the ...

In the latest trading session, JPMorgan Chase & Co. (JPM) closed at $211.44, marking a +0.17% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.15%.Coming into today, shares of the company had lost 3.31% in the past month. In that same time, the Finance sector gained 3.08%, while the S&P 500 gained 2%.Market participants will be closely following the financial results of JPMorgan Chase & ...

JPMorgan (JPM) , which has long considered overseas markets as a key contributor to its growth, now seeks to expand in the African continent. Per a Reuters report, citing four sources familiar with the matter, the bank’s CEO, Jamie Dimon, will travel to Africa in mid-October.JPMorgan has already been offering asset and wealth management, and commercial and investment banking services in South Africa and Nigeria.During his trip next month to Africa, which will be the first in seven years, Dimon is expected t ...

The Federal Reserve granted the market its wish and lowered its benchmark federal funds rate by 50 basis points.For the first time in more than four years, the Federal Reserve has lowered the target range for its benchmark federal funds rate, announcing a half-point rate cut on Wednesday. Lower interest rates can serve as a shot of adrenaline for stocks, because lower treasury yields make riskier assets more appealing.Banks and other financial companies should benefit too, as long as there isn't a severe re ...

Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>Here are the key points:Estimates for 2024 Q3 have come down since the start of the period, with the magnitude of estimate cuts significantly bigger than what we had seen in the comparable periods of the year's first two quarters. This negative shift in the revisions trend reverses the prior ...

The U.S. bank mergers will face tougher scrutiny under new guidelines from three agencies — the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC) and the Justice Department (DOJ). On Tuesday, the FDIC voted to increase the examination levels that directly consider an acquisition's impact on communities, consumers, competition and financial stability. The DOJ and the OCC released modifications and guidelines on their assessments of bank transactions.FDIC Guidel ...

JPMorgan (JPM) has announced an increase in its quarterly dividend. The company declared a dividend of $1.25 per share, which marks an 8.7% rise from the prior payout. It will be paid out on Oct. 31, 2024 to shareholders of record as of Oct. 4. The hike is in line with JPMorgan’s previous announcement to hike its dividend after the clearance of the 2024 stress test.Similarly to JPM, State Street (STT) and PNC Financial Services (PNC) raised their quarterly dividends as they cleared this year’s stress test. ...

America’s largest bank is increasing its expansion efforts outside the U.S.J.P. Morgan Chase is hiring bankers in cities like Stockholm and Copenhagen to expand its Nordic business and take on European banks, officials from the lender told Bloomberg News in an interview Wednesday (Sept. 18).And a report Wednesday from Reuters notes that CEO Jamie Dimon plans to travel to Kenya, Nigeria, South Africa and Ivory Coast next month to boost the bank’s expansion in Africa.According to the Bloomberg report, J.P. Mo ...