JPMorgan, Wells Fargo, and Citigroup Report Double-Digit Wealth Management Revenue Growth
JPMorgan Chase, Wells Fargo, and Citigroup reported double-digit year-over-year revenue growth in their wealth management divisions. JPMorgan's asset and wealth management division saw a 12% increase in net income and 11% rise in net revenue, driven by higher asset management fees and deposit-related fees. However, broader earnings results were mixed, with some quarters showing declines.
Topics: Banking Performance Earnings Call Private Credit Industry Wealth Management Revenue Growth