JPMorgan Sees Mid-Teens Growth in Q3 Banking Fees and Markets Revenue

JPMorgan Chase Co., NYSE: JPM, expects broad-based strength in investment banking and markets during the third quarter, according to Doug Petno, co-president and CEO of the Commercial and Investment Bank. Petno emphasized that the firm is maintaining underwriting and capital-allocation discipline amid favorable but potentially late-cycle market conditions.

The bank anticipates mid- to high-teens growth in Q3 banking fees and markets revenue, citing strength across products and geographies. Petno attributed this momentum to years of investment in banking, markets, and client coverage, including closer coordination between commercial banking, investment banking, and markets businesses.

JPMorgan's clients have remained resilient despite geopolitical uncertainty, elevated oil prices, and hawkish central banks. However, the bank is monitoring companies exposed to artificial-intelligence disruption, lower-income consumer spending, and certain commodity-related pressures.