JPMorgan Chase: Q1 net income soars fivefold
(CercleFinance.com) - JPMorgan Chase has reported a five-fold increase in net income to 14.
3 billion dollars for the first three months of 2021, i.e. 4.50 dollars per share, largely thanks to 5.2 billion dollars in credit reserve releases.
The bank's revenues rose 14% to over 33.1 billion dollars, with the 11% decline in net interest income, due to low rates, offset by 39% growth in non-interest income.
With stimulus and infrastructure spending, quantitative easing and euphoria over the possible end of the pandemic, the bank believes that the economy will be able to post extremely robust and lasting growth in the not-too-distant future.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
3 billion dollars for the first three months of 2021, i.e. 4.50 dollars per share, largely thanks to 5.2 billion dollars in credit reserve releases.
The bank's revenues rose 14% to over 33.1 billion dollars, with the 11% decline in net interest income, due to low rates, offset by 39% growth in non-interest income.
With stimulus and infrastructure spending, quantitative easing and euphoria over the possible end of the pandemic, the bank believes that the economy will be able to post extremely robust and lasting growth in the not-too-distant future.
Copyright (c) 2021 CercleFinance.com. All rights reserved.