JPMorgan net profit grew by 12% in Q1 2015

Noam Stiekema

The US bank JPMorgan Chase reported a higher profit, spurred by the high comprehensive income in the first quarter of 2015. The net profit rose by 12% compared to the same period last year, reaching 5.9 billion USD, while revenues rose by 4% to 24.8 billion USD. Earnings per share reached 1.45 USD, compared with […]

JPMorgan Chase

JPMorgan ChaseThe US bank JPMorgan Chase reported a higher profit, spurred by the high comprehensive income in the first quarter of 2015. The net profit rose by 12% compared to the same period last year, reaching 5.9 billion USD, while revenues rose by 4% to 24.8 billion USD. Earnings per share reached 1.45 USD, compared with 1.28 USD an year earlier. The analysts expected a net profit of 5.4 billion USD and earnings per share of 1.41 USD.

“We have an exclusive franchise, which is becoming safer and stronger and gain market share over time”, said the CEO Jamie Dimon in a statement. This is only the second time JPMorgan achieved higher profit in seven consecutive quarters, after the bank was pressured by the ongoing cost of legal and regulatory issues. The Bank continues to be under pressure from the pending investigations, including the case brought by the United States Department of Justice to manipulate the currency markets, especially in emerging Asia.

Strong result reported corporate and investment banking, whose net profit rose by 19% to 2.5 billion USD, while revenues rose by 9% compared to the same period last year to 5.7 billion USD. The JPMorgan’s shares rose by 0.5% in pre-trading to 62.35 USD per share. After the collapse of more than 10% in January capitalization of JPMorgan is already with only 1% down from the beginning of 2015, overtaking on this indicator competitors such as Goldman Sachs and Wells Fargo.

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