News Tag: JPMorgan Chase

January 19, 2010

Citigroup reports Q4 loss of $7.6bn

by Kay Murchie
Citigroup, which is the third largest US bank, has today posted a loss for the fourth quarter of 2009, as a result of the repayment of Government loans. The bank said it repaid $20 billion to the US Government during the 2009 year. The Wall Street banking giant said losses totalled $7.6 billion (£4.7 billion) for the final three months of last ...

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January 15, 2010

JPMorgan Chase kicks off reporting season with a bang

by Kay Murchie
Wall Street banking giant JPMorgan has kicked off the reporting season with a bang by posting fourth quarter profits of $3.28 billion (£2 billion) compared with $702 million a year ago - at the height of the financial crisis. Meanwhile, the bank reported full-year profits of $11.7 billion, or $2.26 per share, on record revenue of $108.6 billion. ...

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October 15, 2009

Goldman Sachs and Citigroup announce results

by Kay Murchie
There has been mixed news today across the Atlantic after banking giant Goldman Sachs exceeded analysts expectations while Citigroup posted a quarterly loss. Goldman Sachs said net earnings for the third quarter were $3.19 billion (£1.96 billion), compared with $845 million in the same period a year ago (prior to the collapse of Lehman Brothers). However, while the figure was up on ...

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Increased optimism pushes Dow Jones through 10,000 barrier

by Kay Murchie
The Dow Jones Industrial Average broke through the 10,000 barrier yesterday - for the first time in a year. The Dow closed up 144.8 at 10,015.86 - its highest level since October last year. London responded with the FTSE 100 rising by more than 100 points to close at a 13-month high at 5,256.1. Banking giant Barclays closed up 6.6%. ...

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October 14, 2009

JPMorgan Chase kicks off results season and exceeds expectations

by Kay Murchie
The US banking reporting season has got off to a flying start after JPMorgan Chase, the second-largest US bank, reported a net income of $3.6 billion (£2.5 billion) in the third quarter, compared with $527 million in the same period a year ago - exceeding analysts expectations. The bank, which acquired Washington Mutual’s assets for $1.9 billion a year ...

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July 17, 2009

Citigroup & Bank of America exceed market expectations

by Kay Murchie
Citigroup and Bank of America have surprised analysts by reporting better than expected second-quarter results. Results from both banks have followed hot on the heels of strong results from fellow US Banking giants, JPMorgan Chase and Goldman Sachs. Citigroup posted a $4.3 billion second quarter profit due to gains on its Smith Barney deal. However, the bank which has received $45 ...

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July 16, 2009

JPMorgan Chase becomes second US bank to report rise in profits

by Kay Murchie
JPMorgan Chase has today announced a surge in profits for the April to June period. The bank said net profit for the quarter totalled $2.72 billion (£1.6 billion) - an increase of 36% compared with the same period a year ago. Meanwhile, the bank said revenues at increased 41% to a record $27.7 billion. The announcement comes just ...

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April 17, 2008

JPMorgan Chase announces $5.1 billion sub-prime write-down

by Kay Murchie
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 ...

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