JPMorgan expects higher than expected 2026 expenses

Dec 9 (Reuters) - JPMorgan ⁠Chase ⁠expects ‍expenses to climb to about $105 billion in 2026, driven largely by ‍growth and volume related costs, consumer and ​community banking chief Marianne Lake said on ​Tuesday.

Speaking at the Goldman Sachs Financial Services Conference in New York, Lake said strategic investments would be ​the second-biggest contributor to higher expenses, with the consumer and community banking ​unit accounting for a big part of that expense ‌growth.

Analysts, on average, expect JPMorgan’s expenses to total $100.84 billion next year, according ​to LSEG data.

Shares of ⁠JPMorgan fell 4.3%, putting the stock on track for its biggest ‌one-day drop since April 4.

Lake said investment banking revenue is expected to be up ‌by the low-single digit percentages in the fourth ‌quarter, while it expects markets revenue to be up in the low-teens percentages in the fourth ‍quarter.

She said the environment was more constructive for bank M&A than ⁠it had been.

(Reporting by Prakhar Srivastava in Bengaluru and Lananh Nguyen and Tatiana Bautzer in New York; Editing by Chris Reese and Nick Zieminski)

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