JPM - JPMorgan's Lake Aims High Bank Targets 15% Share of Consumer Deposits: Report | Benzinga
JPMorgan Chase & Co. (NYSE:JPM) shares are trading lower today. In an interview at New York headquarters, Marianne Lake, CEO of consumer and community banking, reportedly stated that the bank has set a bold objective to capture 15% of the nation’s consumer deposits.
The lender aims to increase its share of national credit card spending from 17% to 20%, reported Reuters.
In the first quarter, the bank held $1.96 trillion in deposits, including wholesale deposits, vs. $1.95 trillion a year earlier. At the end of the first quarter, U.S. retail deposits totaled $1.1 trillion.
As of June 2023, the bank held an 11.3% share of U.S. retail deposits, based ...