on Friday forecast full-year income from interest payments below analysts’ expectations as the industry prepares for widely expected rate cuts by the U.S. Federal Reserve later this year.
CEO Jamie Dimon also stuck to his cautious tone, despite growing optimism in the last several months about a soft landing for the economy. Profit in the first quarter, however, rose 6 per cent to $13.42 bullion or $4.44 per share, compared with $12.62-billion, or $4.10 per share, a year earlier. The lender also earmarked $725-million to replenish a government deposit insurance fund, less than the $3-billion it set aside at the end of last year.
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