JPMorgan Chase: 17% decline in quarterly net profits

(CercleFinance.com) - JPMorgan Chase publishes net profits in decline by 17% to 9.
74 billion dollars for the third quarter of 2022, representing 3.12 dollars per share, largely due to provisions for credit losses of 1.54 billion for the period.

The banking institution explains that these provisions—which are comparable to provisions taken in the same period in 2021—in particular represent the growth in loans and the impact of the update to its macroeconomic scenarios.

JPMorgan has seen revenues grow 10% to 33.5 billion dollars, with 34% growth of net interest income based on higher rates, but an 8% contraction of its other types of revenue.

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