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4 years ago
BRIEF-JPMorgan Chase CFO Marianne Lake says expenses to come down about $1 billion in 2013 to $59 billion
February 26, 2013 / 2:20 PM / 4 years ago

BRIEF-JPMorgan Chase CFO Marianne Lake says expenses to come down about $1 billion in 2013 to $59 billion

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Feb 26 (Reuters) - JPMorgan Chase & Co : * CFO Marianne Lake says expenses to come down about $1 billion in 2013 to $59

billion * Executives speaking at annual investor day * CFO Lake: JPMorgan has potential to earn $27.5 billion with lower legal

expenses, somewhat higher interest rates, cost savings. * CFO Lake: expect net interest income to be flat as balance sheet growth

offsets lower lending margins * CFO Lake: bank expects firmwide 'through-the-cyle' ROE of 16%,compared to 15%

in 2012. * CFO Lake: bank targeting $24 billion in net income * CFO Lake: bank expects $1 billion in credit card reserve releases in 2013

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