JPMorgan Chase raised its projected pretax profits for the next few years due to higher interest rates, lower taxes and increased automation, according to Reuters.
The company's officials estimate its annual pretax income can rise from $24 billion last year to between $44 billion and $47 billion in the next three years. JPMorgan plans to use better technology to try and improve customer interactions and will invest $1.4 billion in technology initiatives this year.
JPMorgan's stock hit an all-time closing high Feb. 26 at $118.77, an 11 percent increase for the year to date.