Daily Management Review

JP Morgan increases net profit for 9 months by 26% to $ 25.4 billion


10/12/2018


Net profit of JP Morgan Chase, one of the world's largest investment banks, increased by 26% in January-September 2018 compared to the same period last year and amounted to $ 25.408 billion, according to an investment bank report.



JPMorgan Chase Building, San Francisco, California. Photo by Ken Lund
JPMorgan Chase Building, San Francisco, California. Photo by Ken Lund
Diluted earnings per share were $ 7 versus $ 5.22 a year earlier. In the reporting period, the revenue of the American investment giant grew by 9% to $ 82.92 billion.

In the third quarter, the bank received a net profit of $ 8.38 billion, which is 24% more in annual terms. Diluted earnings per share were $ 2.34 from $ 1.76 in the reporting period a year earlier.

Analysts believed the figure would be $ 2.25. Quarterly revenue rose 7% to $ 27.26 billion

"JP Morgan Chase showed strong results this quarter, increasing sales revenues in all divisions... The global and American economies continue to grow, despite growing economic and geopolitical uncertainty, which in the future may have a negative impact on the economy," commented the bank’s head Jamie Dimon.

JP Morgan Chase Investment bank was founded in 1799 and is now one of the world leaders in the field of investment banking and trust management. The bank currently operates in more than 60 countries.

source: bloomberg.com






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