|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    20th of January 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Banking News feed Banking News

All Financial News feed All Financial News

JP Morgan profits up 13%

Bookmark and Share

by Kay Mitchell

The US banking reporting season has got off to a good start today after JP Morgan reported a 13% increase in profits to $5.4 billion (£3.3 billion) – exceeding analysts’ expectations.

Furthermore, revenues were 7% higher in the three months to the end of June at $27.4 billion.

The good performance comes despite losses from bad mortgage debt.

Meanwhile, net profits at its investment bank came in at $2 billion, while those at its commercial arm totalled $607 million.

The bank, which is the second largest in the US by assets, saw its shares advance 3% after the announcement.

Other US banking giants will report their results in the next few days.

Discuss this in the Finance Markets forums

Story link: JP Morgan profits up 13%

News posted: July 14, 2011

Financial Services:

Related financial stories to: JP Morgan profits up 13%:
Previous: «
Next: »

Visited 2038 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , ,