JPMorgan Chase Sees Mid-to-High Teens Q3 Rise in Investment Banking Fees

JPMorgan Chase expects its investment banking fees and markets revenue to rise by mid-to-high teens percentage in Q3, according to co-president Doug Petno. This growth is driven by broad-based strength across the Commercial & Investment Bank (CIB), with robust M&A activity and stable credit conditions.

Petno noted that private equity activity has returned to normal levels, with financing markets open for strong credits and sponsors. Sponsor-backed companies accounted for approximately 25% of US and global IPOs so far this year, with total transaction value exceeding $1 trillion.

JPMorgan is maintaining strict underwriting discipline on AI-related borrowing, keeping its portfolio granular with exposure limits for frontier-model companies and hyperscalers. The bank sees opportunities to safely deploy credit in the near term while assessing adverse AI scenarios.