Tag: JP Morgan Chase

US banks announce third quarter earnings

US banks announce third quarter earnings

US banking giant Citigroup has today reported a rise in its third quarter profit. Citigroup, which is the third largest bank in the US by assets, said third quarter profit came in at $3.77 billion, or $1.23 a share, compared with $2.17 billion, or 72 cents a share, in the same quarter a year earlier. […]

October 17, 2011 More
JP Morgan profits up 13%

JP Morgan profits up 13%

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 […]

July 14, 2011 More
JP Morgan Chase profits exceeds expectations

JP Morgan Chase profits exceeds expectations

Wall Street banking giant JPMorgan has kicked off the banking reporting season today with better-than-expected second quarter profits – due to better credit conditions. The bank reported net income of $4.8 billion (£3.1 billion) – a 75% increase on the $2.7 billion reported in the same period a year ago. Today’s figures from JP Morgan […]

July 15, 2010 More
Bank of America Q1 profits beat expectations

Bank of America Q1 profits beat expectations

The run of good luck is continuing among US banks as Bank of America is the latest to exceed analysts expectations after it made a net profit of $4.24 billion for the three months ending 31 March – almost triple that of a year ago of $1.21 billion. The bank, which is the largest in […]

JP Morgan Chase and Credit Suisse announce job losses

JP Morgan Chase and Credit Suisse announce job losses

The FTSE 100 in London has lost ground today after the announcement that JP Morgan Chase is to axe over 9,000 jobs at the former Washington Mutual (WaMu). WaMu was closed at the end of September making it the largest failure of a US bank. Its assets were sold to banking giant, JPMorgan Chase, for […]

Washington Mutual closed by regulators

Washington Mutual closed by regulators

Washington Mutual (WaMu) has been closed making it the largest failure of a US bank. WaMu’s assets have been sold to banking giant, JPMorgan Chase, for $1.9bn (£1 billion). WaMu was closed by the Federal Office of Thrift Supervision (OTS), and the Federal Deposit Insurance Corp (FDIC) has been appointed receiver. $16.7 billion of deposits […]

JP Morgan Chase hit by write-downs

JP Morgan Chase hit by write-downs

Investment banking giant, JP Morgan Chase, revealed that second-quarter profits fell 52% as it suffered a £550 million ($1.1 billion) loss on mortgage-related write-downs. Net income at the third-largest US bank fell to $2 billion compared with $4.23 billion a year earlier. Revenue fell by 3% to $18.4 billion, above analysts expectations of $16.6 billion […]

Bear Stearns shareholders approve sale to JP Morgan Chase

Bear Stearns shareholders approve sale to JP Morgan Chase

US banking giant, Bear Stearns is no more as its shareholders have approved the $2.2 billion sale to rival JP Morgan Chase. A meeting took place earlier this week at Bear’s headquarters in New York where investors backed the $10-a-share bid. The original offer of $2 a share infuriated some Bear Stearns shareholders who said […]