JPMorgan expects 2017 expenses to rise about 3.4 percent

Features Reuters

A J.P. Morgan logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith (Copyright Reuters 2017)

JPMorgan Chase & Co said it expected 2017 expenses to rise about 3.4 percent as the lender spends more on technology and signing up new credit card accounts.

Continue Reading Below

Total adjusted expenses for 2017 are expected to be about $58 billion, up from $56.1 billion in 2016, according to slides posted on the company's website.

Some investors expecting banks profits to surge have been counting on lenders to hold expenses fairly steady so that more of each additional dollar of revenue goes to the bottom line.��

(Reporting by Sweta Singh in Bengaluru; Editing by Sriraj Kalluvila)