News Formal

JPMorgan’s quarterly profit surges 52% on robust consumer business

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 92%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

JPMorgan’s solid performance follows the high-profile shutdowns of three U.S. lenders last month in the worst banking turmoil since the global financial crisis of 2008

Regulators took control of Silicon Valley Bank and Signature Bank as depositors yanked their funds, marking the second and third largest collapses in U.S. history.

Revenue at the lender’s consumer and community banking unit rose 80 per cent to $5.2-billion. Its Wall Street investment banking business was weighed down by tepid markets for mergers, acquisitions and stock sales.Your Globe

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in AU

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warren Buffett says people should not panic about U.S. banking industry, safety of depositsThe chairman of Berkshire Hathaway said that while more banks will fail, the industry’s recent problems do not resemble those that helped trigger the 2008 global financial crisis
Source: globeandmail - 🏆 5. / 92 Read more »