JPMorgan Chase & Co posted a better-than-expected quarterly profit on Friday, ea...
- JPMorgan Chase & Co posted a better-than-expected quarterly profit on Friday, easing fears that slowing economic growth could weigh on its results.
U.S. bank stocks have underperformed the broader market in recent months on fears of an impending recession, with economists and investors citing concerns over a flattening yield curve and slowing housing market. But bank executives have downplayed concerns, pointing to continuing loan growth. The bank’s net interest margin, a key measure of loan profitability, edged up only 0.02 percent point from the fourth quarter, a slower pace of improvement than in the two previous quarters.
There are other warning signs. JPMorgan’s commercial banking segment made a $90 million provision for credit losses in the first quarter primarily because of downgrades in the credit worthiness of what it called “select” commercial and industrial borrowers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why JPMorgan Chase and Other Big Banks Keep Shutting BranchesBranch consolidation was even more pronounced among the 10 largest banking institutions, shrinking by 3.3% last year.
Read more »
JP Morgan shares surge after record quarterly profits“Even amid some global geopolitical uncertainty, the U.S. economy continues to grow,” said Chief Executive Officer Jamie Dimon.
Read more »
Chevron's stock drop a bigger drag on Dow than the boost from J.P. Morgan's stock surgeJ.P. Morgan Chase & Co.'s stock surge of 2.4% in premarket trade Friday was providing a boost to Dow Jones Industrial Average futures , but not quite...
Read more »
JPMorgan Results Beat Expectations on Strength in Consumer UnitThe nation’s largest bank by assets, JPMorgan Chase reported its first quarter results, giving a glimpse on how the economy’s latest turns have affected big banks.
Read more »
Robert Reich: Bankers love socialism—when it's the government giving them bailouts | OpinionJPMorgan Chase CEO Jamie Dimon warnd shareholders produces “stagnation, corruption and often worse.” He should know - his company benefited from it.
Read more »
Freshman Democrat presses JPMorgan CEO Jamie Dimon over pay disparity'There is no Patricia ... but in the other way, there are ... tens of thousands of Patricias out there.' RepKatiePorter discusses the numbers crunched and shared with JPMorgan CEO Jamie Dimon during a hearing in Washington.
Read more »
Katie Porter Stumps JPMorgan Chase's Jamie Dimon With Question About Employee's IncomeJPMorgan Chase CEO Jamie Dimon may know a lot about the financial industry,but he has a harder time understanding the money problems facing his ownemployees
Read more »
JPMorgan CEO Jamie Daimon is both inspired and worried by China's fintechIn reference to China's progress in AI and fintech, JPMorgan Chase CEO Jaime Daimon said, 'it's hard not to be both impressed and a little worried.'
Read more »
J.P. Morgan Reports Earnings Rose in First QuarterThe nation’s largest bank by assets, JPMorgan Chase reported its first quarter results, giving a glimpse on how the economy’s latest turns have affected big banks.
Read more »