JPMorgan Chase: Q4 net income up 7% y-o-y

(CercleFinance.com) - JPMorgan Chase has reported a 6% increase in net income to 11 billion dollars for Q4 2022, or $3.
57 per share (+7% year-on-year), despite provisions for credit losses of 2.29 billion dollars over the period.

The bank explained that these provisions, which compare to reversals of 1.29 billion a year earlier, in particular reflect a modest deterioration in its macroeconomic outlook, with a slight recession now the central scenario.

JP Morgan's revenues rose 18% to over 34.5 billion dollars, with a 48% increase in net interest income, on the back of higher interest rates, more than offsetting an 8% contraction in other forms of income.


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