Published 3 years ago

JPMorgan Profit Soars After Bank Releases Reserves for Bad Loans

Summary by Reuters

JPMorgan Chase & Co reported a surge in first-quarter earnings on Wednesday, as the largest U.S. bank released more reserves and was aided by a blowout quarter from its trading desks and soaring investment banking fees.

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Yahoo News

JPMorgan profit surges on trading, investment banking boost

JPMorgan, widely seen as a barometer of the health of the broader U.S. economy, was also helped by favorable comparisons to last year when the COVID-19 pandemic forced the bank to build reserves against the risk of a wave of loan defaults. During the quarter, JPMorgan released reserves of $5.2 billion. While the largest U.S. banks struggled last year with the economic effects of the pandemic, investors are optimistic that a recovery this year …

3 years ago·Los Angeles, United States

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Reuters

JPMorgan profit surges on trading, investment banking boost

3 years ago·United Kingdom

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Associated Press News

JPMorgan 1Q profit up sharply, helped by improving economy

NEW YORK (AP) — JPMorgan Chase saw its first-quarter profit jump nearly five fold from a year earlier, as the improving economy allowed the bank to release roughly $5 billion from its loan

3 years ago·United States

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abc News

Profits at Goldman Sachs surge in 1Q, helped by trading

Investment bank Goldman Sachs saw its profits nearly quintuple in the first quarter, driven by a massive surge of revenue from its core investment banking and trading operations

3 years ago·United States

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Washington Times

Profits at Goldman Sachs surge in 1Q, helped by trading

NEW YORK (AP) - Investment bank Goldman Sachs saw its profits nearly quintuple in the first quarter, driven by a massive surge of revenue from its core investment banking and trading operations. The jump in profits is similar to that seen at JPMorgan Chase, which also reported its results ...

3 years ago·United States

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The Washington Post

JPMorgan 1Q profit up sharply, helped by improving economy

JPMorgan Chase’s saw its first quarter profits jump nearly five fold from a year earlier, the company reported Wednesday, as the improving economy allowed the bank to release roughly $5 billion from its loan-loss reserves that it had stored away in the early weeks of the pandemic

3 years ago

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