JPMorgan posted record profit of $29 billion, up 17%, in first half
The extraordinary gains boosted the accounts of the largest bank in the United States, whose results would otherwise have been hurt by peak interest rates for longer than expected.
J.P. Morgan won in the first half of the year $31,568 million (€28,990 million)This 17% more than in the same period of the previous year; and revenue increased by 16% to $92,134 million.
Without thembarge, light and shadow in the results of the entity’s activities under the leadership Jamie Dimonsince the accounts include some extraordinary income of 8 billion dollars which the bank received for exchanging its shares with Visa, in addition to
J.P. Morgan won in the first half of the year $31,568 million (€28,990 million)This 17% more than in the same period of the previous year; and revenue increased by 16% to $92,134 million.
Without thembarge, light and shadows in the results of the activity of the entity headed by Jamie Dimonsince the accounts include some extraordinary income of 8 billion dollars that the bank received for exchanging its Visa shares, among other transactions. If this effect had not been taken into account in the latest results presented, the semester would have remained virtually unchanged and, Over the last three months, profits would have even fallen by 9%..
Object numbers start with warn of negative impact that the fact that the Federal Reserve continues to support Interest rates at 23-year high.
Throughout the semester net interest income They amounted to 45.8 billion dollars, which is 8% more than in the same period last year. However, if we analyze last three monthsYes there is 1% drop compared to the figure recorded in January-March of this year.
The bank’s accounts in the first half of the year simultaneously benefited from reduction of reserves for problem loans by 5% and thanks to the impulse from the side investment activities of banksWhat increased by 35%reaching almost $4.7 billion.
Jamie Dimon assured that The bank is focused on protecting against growing geopolitical risksas well as inflation and its impact on monetary policy, as he believes interest rates may remain high longer than analysts expect.
In your opinion, “We still have a lot of inflationary forces ahead of us.: large budget deficits, infrastructure needs, trade restructuring and world remilitarization.