JPMorgan’s loan arm may see hurricane impact


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There are a few things to look out for in the results from JPMorgan (NYSE:JPM), the largest U.S. bank by total assets. According to a note from Barclays, JPMorgan could see some impacts from the recent hurricanes. Of JPMorgan’s deposits, 9% come from Houston and Miami, which were hit by Harvey and Irma. The bank also has more than 15% of its credit card and auto loans come from Texas and Florida.

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Loan growth is another consideration. When releasing its second quarter results, the bank lowered its net interest income forecast for the full-year by about half a billion dollars. The bank is now expecting a $4 billion increase from the prior year.

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JPMorgan's Chief Financial Officer Marianne Lake said on the firm's conference call that most of the reduction came from lower-than-expected net interest income in the second quarter.

JPM’s stock recently touched a record high of $97.64. The stock closed Wednesday’s session down 0.3% at $96.84.

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