Arab Today, arab today jpmorgan posts 7 profit dip touts progress on settlements
Last Updated : GMT 20:23:54
Arab Today, arab today
Arab Today, arab today

JPMorgan posts 7% profit dip, touts progress on settlements

Arab Today, arab today

Arab Today, arab today JPMorgan posts 7% profit dip, touts progress on settlements

New York - AFP

US banking giant JPMorgan Chase reported a 7.2 percent drop in fourth-quarter earnings Tuesday as it seeks to move past a regulatory onslaught in an improving US economy. JPMorgan, the largest American bank, said earnings were $5.3 billion on revenues of $23.16 billion, down from $5.7 billion on revenues of $23.65 billion in the year-ago period. The results included another charge related to legal settlements. The results translated into $1.30 cents per share compared with analyst expectations for $1.35 per share. On the positive side, the results returned JPMorgan to profitability after a rare loss in the third quarter when a $9.15 billion charge on legal expenses left the company with a rare quarterly loss. JPMorgan has spent about $20 billion on settlements with US regulators since the beginning of 2013. JPMorgan's chief executive Jamie Dimon said the giant bank has made significant headway with government regulators following multiple enforcement actions on everything from its sale of mortgage-backed securities ahead of the financial crisis to its trading of electricity contracts. "It was in the best interests of our company and shareholders for us to accept responsibility, resolve these issues and move forward," Dimon said. "This will allow us to focus on what we are here for: serving our clients and communities around the world." The results included another charge for legal expenses, this time for $1.1 billion, including for settlements announced last week with the Department of Justice related to poor oversight of accounts by convicted fraudster Bernard Madoff. Earnings for corporate and investment banking dipped to $858 million from $2.0 billion, in part due to an accounting change on some derivatives and structured notes. Dimon said he is "increasingly optimistic about the future of the US economy" and that the bank planned to continue to support the recovery.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today jpmorgan posts 7 profit dip touts progress on settlements Arab Today, arab today jpmorgan posts 7 profit dip touts progress on settlements

 



Arab Today, arab today
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today AT&T, Verizon join Google ad boycott

GMT 10:30 2017 Thursday ,23 March

AT&T, Verizon join Google ad boycott
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 13:11 2017 Tuesday ,21 March

Web-based counseling lowers blood pressure

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday