JPMorgan aims to amass 15% of US consumer deposits, boost credit card share

 The biggest U.S. bank wants to get even bigger.

JPMorgan Chase (JPM.N), opens new tab has set an ambitious goal of attracting 15% of the country’s consumer deposits, Marianne Lake, its CEO of consumer and community banking, told Reuters in an interview at the company’s New York headquarters.

The bank had an 11.3% share of U.S. retail deposits at the end of June 2023, the latest available data.

The lender also wants to provide credit cards that account for 20% of the nation’s spending, expanding from a current 17%.

Source: REUTER