JP Morgan Chase: Q3 net income up 12.3%
(CercleFinance.com) - The US banking giant has announced net profit of 11.
7 billion dollars for Q3 2021, up 2.2 billion dollars (12.3%).
Net revenues over the quarter came in at 30.4 billion dollars, up 2%. Meanwhile, non-interest income was 17.3 billion dollars, up 3%, mainly due to higher investment banking fees in CIB Bank and management fees in AWM.
The consensus said that the New York-based institution expected to report EPS of 2.98 dollars, with analysts forecasting 2.58 to 3.31 dollars.
The provision for credit losses was a net profit of 1.5 billion dollars, reflecting a net release of 2.1 billion dollars in reserves, thanks to the improved economic outlook.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
7 billion dollars for Q3 2021, up 2.2 billion dollars (12.3%).
Net revenues over the quarter came in at 30.4 billion dollars, up 2%. Meanwhile, non-interest income was 17.3 billion dollars, up 3%, mainly due to higher investment banking fees in CIB Bank and management fees in AWM.
The consensus said that the New York-based institution expected to report EPS of 2.98 dollars, with analysts forecasting 2.58 to 3.31 dollars.
The provision for credit losses was a net profit of 1.5 billion dollars, reflecting a net release of 2.1 billion dollars in reserves, thanks to the improved economic outlook.
Copyright (c) 2021 CercleFinance.com. All rights reserved.