Vladimír Urbánek (Kurzy.cz)
World markets  |  12.4.2013 15:56:19

JP Morgan Chase 1Q13 earnings rose by 33% to a record 6.53 mld.USD


America's number one bank JP Morgan Chase in Q1 of this year rose year on year profit by 33% to a record 6.53 mld.USD = $ 1.59 per share. The market for results adjusted for non-recurring items was estimated growth at $ 1.39 per share. The increase in profitability was largely achieved by reducing the cost by 16%. The bank plans to cut costs to continue, because in February announced that by the end of 2014, reducing conditions of about 19,000 jobs. Bank globally employs around 259,000 people. This year, the bank will leave about 4,000 people.

Total revenue declined banks in Q1 down by 4% to 25.1 mld.USD. Revenue consumer division, including mortgages and checking accounts declined by 6% to 11.6 mld.USD. Profit was decreased by 12% to 2.59 mld.USD.

JP Morgan in 1Q provide mortgages totaling 482 mld.USD, representing an annual growth of 29%, which was mainly supported by a further decline in mortgage rates.

Revenue Divisions investment and corporate banking grew by 9% to 10.1 mld.USD. Profit of these divisions was mainly due to the revaluation of its obligations.

Revenue Division of fixed income and securities trading declined by 5.4% to 6.09 mld.USD.


Related news:
Wells Fargo profit in 1Q13 grew to a record 5.17 ..

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JP Morgan Chase v 1Q13 zvedla zisk o 33% na rekordních 6,53 mld.USD

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