Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

JPMORGAN: Expenses are going up in 2017

Sweta SinghFeb 28, 2017, 18:26 IST

REUTERS/Dylan Martinez

(Reuters) - JPMorgan Chase & Co said it expected 2017 expenses to rise about 3.4 percent as the lender spends more on technology and signing up new credit card accounts.

Total adjusted expenses for 2017 are expected to be about $58 billion, up from $56.1 billion in 2016, according to slides posted on the company's website.

Some investors expecting banks profits to surge have been counting on lenders to hold expenses fairly steady so that more of each additional dollar of revenue goes to the bottom line. (Reporting by Sweta Singh in Bengaluru; Editing by Sriraj Kalluvila)

NOW WATCH: A body language expert analyzes Trump's unique handshakes

Please enable Javascript to watch this video