JPMorgan Chase & Co. expects a 16% return on equity this year for Chase Auto Finance, according to a presentation in late February at the bank’s annual investor day. Chase Auto boasted a 26% return on equity in 2013, though it started the year with an ROE expectation of 18%. Chief Executive for Consumer and Community Banking Gordon Smith touted the bank’s auto business, pointing out that Chase Auto is the third-largest non-captive lender in the U.S. At yearend 2013, Chase Auto had a $53 billion portfolio, up 6% from 2012.
Chase Expects Auto ROE to Drop in 2014
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