The expectation for most banks this year has been that core growth will
be challenging given low rates and competitive lending markets. Those
banks that can wring out better credit and/or better fee income should
do a little better, and that seems to be the case for JPMorgan (NYSE:JPM).
An influx of deposits thumped the net interest margin and lending
growth was iffy, but overall results were boosted by good credit
outcomes and solid fee income results. All told, this remains an
undervalued bank and one with solid earnings power in the coming years.
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