Sun. Jul 25th, 2021

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

JPMorgan profit jumps 42%

1 min read

JPMorgan Chase & Co.

JPMorgan Chase & Co reported a much better-than- expected 42% jump in fourth-quarter profit on Friday, driven by the release of some of the reserves it had built up against coronavirus-driven loan losses and continued strength in its trading and investment banking units.

The bank’s net income rose to $12.1 billion, or $3.79 per share, in the quarter ended Dec. 31, from $8.5 billion, or $2.57 per share, a year earlier. Revenue rose 3% to $30.2 billion. During the quarter, JPMorgan released credit reserves of $2.9 billion, boosting its profit.

Excluding the reserves, the bank reported net income of $9.9 billion, or $3.07 a share, which was well ahead of Wall Street estimates of $2.62 per share.

Investment banking revenue surged 37% to $2.5 billion, driven by higher advisory fees across all its products.

JPMorgan ended the year in better shape than most of its peer lenders, thanks to continued strength in investment banking and trading, which benefited from volatility in financial markets as investors reassessed their portfolios at the end of the year.

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.