Arab Today, arab today jpmorgan chase profits up sees slow recovery
Last Updated : GMT 13:09:04
Arab Today, arab today
Arab Today, arab today

JPMorgan Chase profits up, sees slow recovery

Arab Today, arab today

Arab Today, arab today JPMorgan Chase profits up, sees slow recovery

New York - AFP

US banking giant JPMorgan Chase Friday logged a 31 percent increase in quarterly profits, but gave a mixed report on the status of the economic recovery. JPMorgan\'s second quarter profit came in at $6.5 billion on revenues of $25.2 billion, up from last year\'s income of $5.0 billion on revenues of $22.2 billion. The results showed a healthy 19 percent increase in profits from the corporate and investment bank unit to $2.8 billion. The year-over-year comparison also benefitted because the bank last year took a $4.4 billion charge due to the so-called \"London whale\" debacle, a large trading loss in its chief investment office. But results in other key divisions were mixed. Profits in the consumer and community division shrank 6 percent compared with last year to $3.1 billion, while income in commercial bank fell 8 percent to $621 million. Average business banking loans at $18.7 billion were up 4 percent from the prior year, but flat compared with the prior quarter. Chief Executive Jamie Dimon said the pace of the economic recovery remains fairly slow. \"Loan growth across the industry continues to be soft, reflecting a cautious stance by consumers, many small businesses and corporations,\" Dimon said. \"However, we continue to see broad-based signs that the US economy is improving and we are hopeful that, as jobs are added and the confidence builds, the US economy will strengthen over time.\" In a positive sign as far as consumer confidence, credit card sales volume came in at a record $105.2 billion, up 10 percent from the prior year and 11 percent from the prior quarter. The company\'s mortgage originations were $49.0 billion, up 12 percent from the prior year. But mortgage application volumes were at $65.0 billion, down 3 percent from the prior year. JPMorgan shares were down 0.6 percent in pre-market trading.

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 chase profits up sees slow recovery Arab Today, arab today jpmorgan chase profits up sees slow recovery

 



Arab Today, arab today
Arab Today, arab today Kanye West puts hijab-wearing model

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 16:23 2017 Sunday ,19 February

Global energy news

GMT 16:05 2017 Sunday ,19 February

Trudeau calls for wider social benefit from economy

GMT 05:57 2017 Sunday ,19 February

How do you say déjà vu in Greek?

GMT 05:26 2017 Sunday ,19 February

US natural gas market tightens

GMT 05:06 2017 Sunday ,19 February

Merkel: Euro is too low for Germany

GMT 04:58 2017 Sunday ,19 February

Swedish PM: Brexit deal in 2 years is unlikely
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 17:36 2017 Monday ,13 February

Designer prepares to present 2017 collection
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