JPMorgan Chase also said that the entire fund was acquired in the last three months of 2021 ahead of expectations of experts, forcing a US bank giant to record a year-long profit.
In terms of earnings for the fourth quarter on Friday, a major U.S. lender said the total amount was $ 10.4bn, or $ 3.33 per share. That was down from $ 12.1bn, or $ 3.79 per share, at the same time last year, yet ahead of what experts think $ 9.36bn, or $ 2.99 per share, according to Bloomberg data.
Overall in 2021, total profits came at a cost of $ 48.3bn, aided by higher bank repayments and less debt losses during the epidemic than expected by the bank.
Jamie Dimon, JPMorgan’s chief executive, was very impressed next year.
“The economy continues to thrive even though the hurricane is related to Omicron’s transformation, rising prices and inflation,” Dimon said in a statement.
“Debt continues to remain healthy due to very low wages, and we still expect the US economy to grow because businesses are thriving and consumers are benefiting from employment and wage growth.”
JPMorgan also reported that the $ 30.3bn revenues in the fourth quarter, rose slightly from $ 30.16bn a year earlier and are in line with what experts have predicted about $ 30bn.
Bank financing in the fourth quarter rose 28 percent to $ 3.2bn, compared to what experts estimate at $ 3.1bn, amid global economic growth. dealmaking work.
Investments in JPMorgan’s trading portfolio, which was in its second year in 2020 due to a sharp decline in the market, fell by 11% to $ 5.3bn, but continued to rise before the epidemic. Investigators had an estimated $ 5.36bn.
Results for 2021 and a quarter were blasphemy by releasing the stockpile JPMorgan and other banks have set it aside in order to repay the debt that could have been incurred due to fears of a pandemic.
In the fourth quarter, JPMorgan said it also released $ 1.8bn in savings. Updated that, the total cost was $ 9bn.
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