JPMorgan Chase reports a quarterly profit of $21.2 billion, up 41 per cent on the previous year
(Il Sole 24 Ore Radiocor) - JPMorgan Chase reported better-than-expected second-quarter profits, thanks to strong merger and acquisition activity and a recovery in IPOs. Net profit stood at $21.2 billion, or $7.70 per share, compared with $14.99 billion, or $5.24 per share, in the previous year, representing a 41 per cent increase. Operating revenue rose by 27 per cent to $58 billion. Net interest income grew by 10 per cent to $25.6 billion, whilst non-interest income jumped by 45 per cent to $32.4 billion. Assets under management grew to $5,100 billion, an increase of 18 per cent year-on-year. Average loans grew by 18 per cent year-on-year and by 6 per cent compared with the previous quarter; average deposits rose by 5 per cent year-on-year and by 3 per cent quarter-on-quarter.
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