JPMorgan profit jumps on higher investment banking fees, accounting gain

- JPMorgan Chase's profit rose in the second quarter, buoyed by rising investment banking fees and an $8 billion accounting gain from a share exchange deal with Visa.

"While market valuations and credit spreads seem to reflect a rather benign economic outlook, we continue to be vigilant about potential tail risks," CEO Jamie Dimon said adding that the risks included a changing geopolitical situation, which remains the most dangerous since World War II.The largest U.S. bank's profit was $18.15 billion, or $6.12 per share, for the three months ended June 30, compared with $14.47 billion, or $4.75 per share, a year earlier, it said on Friday.

JPMorgan also extended its gains from lending, with net interest income - the difference between what it earns on loans and pays out on deposits - growing 4% to $22.9 billion versus a year earlier.

South Africa South Africa Latest News, South Africa South Africa Headlines

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

JPMorgan profit jumps on higher investment banking fees, accounting gainThe largest U.S. bank's profit was $18.15 billion, or $6.12 per share, for the three months ended June 30, compared with $14.47 billion, or $4.75 per share, ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

JPMorgan’s Investment-Banking Fees May Rise 30%, Rohrbaugh SaysJPMorgan Chase & Co. sees investment-banking fees climbing as much as 30% in the second quarter from a year ago, an even bigger increase than executives predicted at the firm’s investor day just last month.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Nevada Copper shareholders face loss of investment as Elliott Investment circles to provide emergency bankruptcy fundingThe struggling Canadian miner, which has struggled for years to ramp up production at its Pumpkin Hollow copper mine, is seeking bankruptcy protection
Source: globeandmail - 🏆 5. / 92 Read more »