JPMorgan Chase issues 2026 outlook, projects ~$104.5B NII and ~$105B expenses

JPMorgan Chase disclosed its financial outlook for 2026 during a Company Update presentation for investors. The firm provided key targets for net interest income, expenses, and credit quality, while expressing cautious optimism about the macroeconomic environment.

Key Details

• 2026 Financial Outlook: The firm projects approximately $104.5 billion in firmwide Net Interest Income (NII) and approximately $105 billion in adjusted expenses for the full year 2026.
• Credit Quality Forecast: The Card Services net charge-off (NCO) rate is forecasted to be approximately 3.4% in 2026, based on assumptions of a stable economic environment.
• Strategic Targets: Management reiterated a through-the-cycle target of 17% for Return on Tangible Common Equity (ROTCE) and highlighted continued investments in technology, AI, and growth initiatives such as hiring bankers and expanding its branch network.