PHOENIX Bank One Corp. chief executive James Dimon said he is optimistic about the Chicago banking companys troubled First USA credit card unit.
The business has stabilized. We want to get it growing, Mr. Dimon said at a conference here Monday that was sponsored by Credit Suisse First Boston.
He said he expects a 2% to 2.5% return on assets for First USA by the fourth quarter. Meanwhile, customer attrition is 10% to 12%, down from 20%, under new First USA chief executive Philip G. Heasley, who took the helm in January.