JP Morgan CFO Says Normalization In Credit Card Charge-offs Has Happened Even If There Is A Slight Uptick Going Ahead; Deposit Margins Yet To Normalize; We Have Been Over-Earning On Deposit Margin And Credit But On Path To Normalization
Portfolio Pulse from Benzinga Newsdesk
JP Morgan's CFO announced that credit card charge-offs have normalized, though a slight increase may occur. Deposit margins have not yet normalized, and the bank has been over-earning on deposit margins and credit, but is on a path to normalization.
October 11, 2024 | 12:29 pm
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JP Morgan's CFO indicates that credit card charge-offs have normalized, with a potential slight increase. Deposit margins are yet to normalize, and the bank has been over-earning on deposit margins and credit, but is moving towards normalization.
The normalization of credit card charge-offs suggests stability in JP Morgan's credit operations, which is neutral for the stock. The mention of over-earning on deposit margins and credit indicates past strong performance, but the path to normalization suggests future earnings may stabilize or decrease, balancing the impact.
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IMPORTANCE 80
RELEVANCE 100