JPMorgan Chase profit falls after $2.9 billion fee from regional bank rescues
Publishing timestamp: 2024-01-12 10:04:26
Summary
JPMorgan Chase reported a decline in fourth-quarter profit due to a fee tied to government seizures of failed regional banks. However, excluding this fee and investment losses, earnings would have been higher than expected. The bank's full-year results were record-breaking, and it emerged larger and more profitable from the regional banking chaos. The CEO struck a cautious note on the American economy, citing risks such as inflation and geopolitical tensions. The article also mentions concerns about rising losses from commercial loans and higher defaults on credit cards.
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Keywords: jpmorgan drn, goldman sachs group inc, bank of america corp, morgan stanley, jamie dimon, breaking news: investing, banks, earnings, wall street, breaking news: markets, breaking news: earnings, citigroup inc, wells fargo & co, business news, investment strategy, breakingnewsglobal, coronavirus: business,
Source: https://www.cnbc.com/2024/01/12/jpmorgan-chase-jpm-earnings-q4-2023.html