JPMorgan quarterly profit rises 10% as expenses drop
[NEW YORK] JPMorgan Chase & Co, the biggest US bank, said fourth-quarter profit rose 10 per cent as expenses from litigation and employee compensation shrank.
Net income rose to US$5.43 billion, or $1.32 a share, from US$4.93 billion, or $1.19, a year earlier, according to a statement Thursday from New York-based JPMorgan. Earnings were $1.40 a share excluding litigation costs and accounting adjustments, beating the $1.27 average estimate of 29 analysts surveyed by Bloomberg.
BLOOMBERG
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
Barclays is the latest firm to face anti-ESG wrath in Oklahoma
Barclays prices mortgage-backed notes in deal with GoldenTree
TD risks an earnings hit from US laundering probe, analysts say