by Amruth Sundarkumar | Oct 17, 2022 | Banks
JPMorgan reported its Q3 results with net profits down 17% YoY to $9.74bn, on revenues of $32.5bn, up 10% YoY. Its net interest income rose 34% to $17.6bn thanks to higher rates and an expanding loan book. Total Markets revenues were at $6.8bn, up 8% – Fixed...
by Amruth Sundarkumar | Oct 11, 2022 | Banks
As Q3 earnings season approaches, the largest US banks are expected to collectively increase their loan loss provisions by about $4.5bn, according to analysts’ estimates from Bloomberg. The banks include JP Morgan Chase, Bank of America, Citigroup, Goldman Sachs,...
by Amruth Sundarkumar | Jul 15, 2022 | Banks, Investment Grade Bonds
JPMorgan Chase reported a net income of $8.6bn in Q2 2022, 28% lower YoY from $11.9bn a year earlier. The main driver behind the muted earnings performance was increased provisions for credit losses at $1.1bn. This included $657mn of net charge-offs and a net credit...
by Amruth Sundarkumar | May 24, 2022 | Banks
JP Morgan Chase & Co (JPMC) raised its forecast for interest income and a steady profitability target at its investor conference. JPMC expects net interest income (NII), excluding markets, to be around $56bn in 2022 vs. its earlier forecast of $53bn which was...
by Amruth Sundarkumar | Apr 14, 2022 | Financial News
JPMorgan kicked off the US bank earnings season reporting a 42% drop in its Q1 2022 net profits to $8.3bn. Net revenues fell 5% to $31.6bn. The drop in profits came after $1.5bn in provisions were made for credit losses were. The bank took a $902mn charge on credit...
