JP Morgan’s net profit for the nine months fell by 39%

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JP Morgan’s net profit for the nine months fell by 39%

16.10.2020 News

The net profit of one of the world’s largest investment banks JP Morgan Chase (USA) in January-September 2020 decreased by 39% compared to the same period last year and amounted to 16.995 billion dollars, according to the report of the investment bank.

Adjusted earnings per share were $ 5.09 against $ 8.15 a year earlier. The US investment giant’s revenue rose from 4% to $ 90.319 billion during the reporting period.

In the third quarter, the bank increased its net profit by 4% year on year to $ 9.443 billion. Adjusted earnings per share were $ 2.92 against $ 2.68 a year earlier. Analysts expected the figure of $ 2.23. Quarterly revenue fell 0.5% to $ 29.147 billion.

Investbank also announced that it continues to suspend the repurchase of the shares until the end of the year due to the requirements of the US Federal Reserve. On September 30, the BND extended its demand to the large banks to suspend redemption of the shares until the end of 2020.

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