JPMorgan Chase & Co reported a better-than-expected quarterly profit on Tuesday ...
) reported a better-than-expected quarterly profit on Tuesday as higher interest income and buoyant consumer lending offset lower activity at its trading desks.
Citigroup similarly reported a decline in net interest margin on Monday, which sent bank stocks lower. The earnings beat was driven by JPMorgan’s consumer bank, Chase, which reported credit card loans were up 2%, credit costs were flat and overall income was up 22%.“We continue to see positive momentum with the U.S. consumer – healthy confidence levels, solid job creation and rising wages – which are reflected in our Consumer & Community Banking results,” he said in a statement.
Investors, however, worry that if the U.S. Federal Reserve cuts interest rates in July, it could pressure margins at banks, which have benefited recently from higher rates.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
JPMorgan Chase's CEO is hunting for the bank's next acquisition — and we think a US neobank could be the targetJPMorgan Chase CEO Jamie Dimon is on the hunt for a big acquisition, and we think a US neobank could be the next target in his crosshair.
Baca lebih lajut »
JP Morgan Chase is set to report second-quarter earnings – here's what the Street expectsBank stocks have rebounded in recent months as strong results from lenders' retail businesses helped drive firms including J.P. Morgan to record profits.
Baca lebih lajut »
Police stop 4 kids who drove SUV 600 miles down Aussie coastFour children between the ages of 10 and 14 drove an SUV 600 miles down the Australian coast over two days, failed to pay for gas twice and led authorities on a brief chase before being stopped, police say.
Baca lebih lajut »
Citigroup profit beats estimates on gains in consumer lendingCitigroup Inc beat analysts' estimates for quarterly profit on Monday, as a...
Baca lebih lajut »