JPMorgan cuts outlook for net interest income on lower rates

NEW YORK (Reuters) – JPMorgan Chase & Co now expects net interest income for all of 2020 to be about $55 billion, down from an earlier estimate of $56 billion, Chief Financial Officer Jenn Piepszak said on Tuesday.

Piepzak, speaking to a virtual conference hosted by Barclays, also said the current trend points to 2021 net interest income of about $13 billion per quarter.

(Reporting by David Henry in New York)