News Tag: credit crunch not over
April 17, 2008
Wall Street bank, JPMorgan Chase, announced a 50% fall in its first quarter profits as the bank was hit by a $5.1 billion (£2.5 billion) sub-prime write-down.
Revenue for the first quarter fell by 11% to $16.9 billion, marginally ahead of analysts who were expecting turnover at $16.8 billion.
America's third biggest bank, which bailed out its rival Bear ...
JPMorgan Chase announces $5.1 billion sub-prime write-down
by Kay Murchie
