The Finance Owl

Banks – Loans – Mortgages – Money

JP Morgan Chase Profits

Posted by theaccountant October - 15 - 2009 - Thursday

JP Morgan Chase & CoJP Morgan Chase & Co, which is one of the largest US banks, appears to have posted relatively strong profits. The bank’s profits were ahead of Wall Street’s expectations and this appears to have pleased many of Wall Street’s bank investors. The JP Morgan Chase & Co investment arm seems to have posted strong profits, which compensated for less favourable results on the Chase loans and Chase credit cards side of the bank’s business.

The results of JP Morgan Chase & Co have provided Wall Street with one small bright light in what has been a very turbulent twelve months. Some of the bank’s investors will no doubt read this as another green shoot of recovery, however bank investors must not forget that there have been many false dawns of recovery recently.

Bank of America and Citigroup are due to post results later this week.  There are fears that both Bank of America and Citigroup may not be posting such attractive figures. It should be another interesting week in the US bank market.

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19 Responses to “JP Morgan Chase Profits”

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