Vladimír Urbánek (Kurzy.cz)
World markets  |  October 12, 2012 15:44:29

JPMorgan profit in Q3 grew by 34% and exceeded market expectations


Net profit of U.S. bank JPMorgan Chase, which is the U.S. leader in volume of managed assets grew by 34% year on year to 5.71 mld.USD = $ 1.40 per share. Gross profit inter alia, the loss from the revaluation of own liabilities exceeded market expectations set in this matter for $ 1.2.

The bank's management said that losses from wrong bets on credit derivatives in 3Q were only marginal compared to the "ax" of 5.8 mld.USD stuck in the first half of this year.

Total revenue in 3Q banks grew by 6% to 25.9 mld.USD. Income investment banking division decreased by 1% to 6.28 mld.USD.
Revenue Division of fixed income and equity markets stagnated at 4.76 mld.USD.
Income Retail Division increased by 21% to 1.41 mld.USD.
The net interest margin decreased from 2.66 to 2.43%.
Revenue growth recorded mortgage division, which improved to 2.38 from last year's 1.38 mld.USD mld.USD.

Number of problematic credit cards declined. The volume of loans in arrears for at least 30 days fell to 2.15% from 2.9% in 2011. The volume level of depreciation reaches 3.57% compared to 4.7% last year and 4.35% in 2Q this year.

Bank put into reserves mill.USD 684 to cover the costs associated with legal disputes, mostly mortgage

Shares of the Bank to the report before the proper trading react only weakly. At the end of yesterday's polepšoval the title this year by 27%.
Bank recovered 41 mld.USD market capitalization of 51 mld.USD lost in connection with April's derivative losses.

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