9911796707
TMI BlogJPMorgan posts record annual profits as major US banks thrive in final quarter of 2024X X X X Extracts X X X X X X X X Extracts X X X X ..... JPMorgan posts record annual profits as major US banks thrive in final quarter of 2024 - PTI News Dated:- 15-1-2025 PTI - News - JPMorgan posts record annual profits as major US banks thrive in final quarter of 2024 - - - Dated:- 15-1-2025 - Washington, Jan 15 (AP) JPMorgan's net income soared 50 per cent to more than USD 14 billion in the fourth quarter as the bank's profit and revenue easily bea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t Wall Street forecasts, and other major banks reported banner earnings for the year. Earnings per share rose to USD 4.81 from USD 3.04 a year ago. The result beat Wall Street profit projections of USD 4.09 a share, according to the data firm FactSet. Total managed revenue hit USD 43.7 billion, up 10 per cent, from USD 39.9 billion a year ago. Wall Street was expecting revenue of USD 41.9 billion. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... JPMorgan posted a record USD 54 billion profit for the year, or USD 18.22 per share, adjusted for one-time expenses. Yet interest income fell 3 per cent to USD 23.5 billion, driven lower by lower interest rates. JPMorgan CEO Jamie Dimon said the bank got a boost from investment banking business, where fees rose 49 per cent and markets revenue jumped 21 per cent. The bank's consumer banking busine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ss also thrived, with clients opening nearly 2 million checking accounts. The New York bank set aside USD 2.6 billion to cover bad loans, down slightly from the same period a year ago. JPMorgan shares rose 1.2 per cent before the bell. Wells Fargo also topped profit expectations Wednesday with a nearly 50 per cent jump in net income, with earnings of USD 5.1 billion in the fourth quarter, or USD 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .43 per share. Revenue came in at USD 20.4 billion, a touch lower than expectations. In the same quarter a year ago, Wells posted net income of USD 3.4 billion, or 86 cents per share, on USD 20.5 billion in revenue. In September, Wells Fargo agreed to work with US bank regulators to shore up its financial crimes risk management, including internal controls related to suspicious activity and money ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... laundering. The agreement came just seven months after the Biden Administration lifted a consent order on the bank that had been in place since 2016 following a series of scandals, including the opening of fake customer accounts. Wells rose 3.2 per cent before markets opened. JPMorgan's Dimon said the US economy remains strong, noting the nation's low unemployment and strong consumer spending. “Bu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sinesses are more optimistic about the economy, and they are encouraged by expectations for a more pro-growth agenda and improved collaboration between government and business,” said, alluding the an incoming Trump administration that has promised to cut regulations across industries. Dimon said that any regulation should balance promoting growth and keeping the banking system safe. “This is not a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bout weakening regulation ... but rather about setting rules that are transparent, fair and holistic in their approach and based on rigorous data analysis, so that banks can play their critical role in the economy and markets.” Dimon, however, said that the state of the geopolitics “remains the most dangerous and complicated since World War II” and that JPMorgan is preparing for a wide range of ou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tcomes. (AP) PY PY - - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
