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16th of April 2011
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News Tag: JP Morgan

April 13, 2011

JP Morgan profits boosted by credit card business

by Kay Murchie
JP Morgan profits boosted by credit card business
US banking giant JP Morgan has today reported a rise in first quarter profits boosted by a strong performance in its credit card operation. Net income for the three months to the end of March rose to $5.56 billion (£3.4 billion) compared with the $3.33 billion in the same period a year ago. Its card services division revealed a profit of ...




December 20, 2010

JP Morgan acquires London HQ from Lehman

by Kay Murchie
’JP
US banking giant JP Morgan has acquired the former Lehman Brothers building in London’s Canary Wharf and it is set to become the bank’s new European headquarters. The 1.1m square feet tower, located at 25 Bank Street, has been bought by JP Morgan for £495 million, and will put an end to speculation that the US bank was looking to relocate ...




October 19, 2010

Bank of America unveils Q3 losses

by Kay Murchie
Bank of America unveils Q3 losses
Bank of America, which the US’ largest bank, has today unveiled a net loss of $7.3 billion, or 77 cents per share, compared with a loss of $2.2 billion, or 26 cents per share, a year earlier. The banking giant said it had a one-off impairment charge of $10.4 billion for the July to September period. Meanwhile, net interest income declined for ...




October 14, 2010

JP Morgan announces Q3 results

by Kay Murchie
JP Morgan announces Q3 results
Wall Street banking giant JPMorgan has kicked off the banking reporting season by announcing a 23% increase in profits for the third quarter - better than the markets had expected. The bank said net profit came in at $4.4 billion (£2.8 billion), against a profit of $3.6 billion in the same period a year earlier. However, income at its investment bank slumped by a ...




October 13, 2010

Standard Chartered announces £3.3bn cash call

by Kay Murchie
”Standard
London-based emerging markets bank, Standard Chartered, has today announced plans to tap investors for £3.3 billion by selling fresh shares in the banking group. The cash call, which represents the biggest for the bank, comes after new Basel III regulations, which agreed how much equity banks must hold in reserve in order to prevent another financial crisis. The bank, which recently posted a ...




July 2, 2010

RBS offloads Sempra Commodities in $1.6bn deal

by Kay Murchie
”RBS
Royal Bank of Scotland (RBS), which is 84% owned by the taxpayer, has announced it has completed the sale of its metals, oil and European energy business, Sempra Commodities, to US investment bank, JP Morgan, in a $1.6 billion (£1.1 billion) deal. Sempra, which is based in San Diego reported 2009 revenues to be in the region of $8 billion. The ...




April 17, 2009

More good news for US banks as Citigroup reports profit of $1.6bn

by Kay Murchie
”More
Citigroup has today boosted the stock market by announcing its first quarterly net profit in almost two years. The bank made a profit of $1.6 billion (£1.1 billion) for the first three months of 2009, compared to a loss of $5.1 billion in the last three months of last year, while revenues rose 99% to $24.8 ...




April 16, 2009

JP Morgan exceeds expectations by reporting $2bn profit

by Kay Murchie
”JP
JP Morgan Chase have followed fellow investment bank Goldman Sachs by beating analysts' expectations for its first quarter results. JP Morgan said profits for the first three months of 2009 were $2.1 billion (£1.41 billion), resulting in a rise of 2.6% in its share price today on Wall Street. The US bank is one of many to have received financial assistance ...