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The largest bank in the USA made us happy (traders.lt)

Didžiausias JAV bankas nudžiugino (traders.lt)

America's largest bank by assets under management, JPMorgan Chase, boasted last quarter operating results that exceeded expectations. During the previous trading session, its shares rose slightly, but then started to fall: JPMorgan Chase 204.20 (-1.57%) .

During the second quarter of this year, the net profit of this bank reached 18.149 billion. dollars, or 6.12 dollars per share. Compared to the same period a year ago, it rose by a quarter, and compared to the first quarter of this year – 35 percent.

Adjusted earnings per share (that is, excluding items related to the bank's Visa stake) came in at $4.26, when it was expected to average $4.19.

JPMorgan Chase Bank's quarterly net interest income reached 50.992 billion this time. dollars, and it was predicted to amount to an average of 49.87 billion. dollars. Compared to the previous quarter and the same period a year ago, revenue rose by a fifth.

The bank's income from share trading grew by 21 percent to three billion dollars, or 230 million. dollars more than expected. Meanwhile, income from fixed income rose five percent to $4.8 billion. dollars, which met expectations. On the other hand, the share of bad loans amounted to 3.052 billion. dollars (expected 2.78 billion dollars), or as much as 62 percent more than the quarter before and five percent more than a year ago during the same period.

The net income of the largest American bank for the first half of this year reached 93.54 billion. dollars, and the net profit – 31.568 billion. dollars. Compared to the first half of 2023, it was fourteen and seventeen percent more, respectively. The share of bad loans fell by five percent to 4.936 billion. dollars.

JPMorgan Chase CEO Jamie Dimon noted in a statement that they were cautious about possible future risks, including higher-than-expected inflation and interest rates, even though stock and bond valuations currently "reflect a relatively favorable outlook for the economy."

"The geopolitical situation remains complex and potentially the most dangerous since World War II, although its consequences and impact on the world economy remain unknown." Some progress has been made in reducing inflation, but there are still many inflationary forces facing us: large fiscal deficits, infrastructure needs, trade restructuring and global remilitarization," said Jamie Dimon.

Since the beginning of the year, the market value of the mentioned bank has increased by 20.6 percent, and in the last one year – by forty percent. In comparison, the value of the Dow Jones Industrial Average index increased by 5.5 percent and sixteen percent, respectively.

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