JPMorgan edges closer to leaving pandemic behind, its earnings show By Reuters – Investing.com
- Date: 14-Oct-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
JPMorgan edges closer to leaving pandemic behind, its earnings show By Reuters – Investing.com
By Anirban Sen and Elizabeth Dilts Marshall
(Reuters) -JPMorgan Chase & Co beat analysts’ profit estimates on Wednesday, thanks to record revenue in some investment banking businesses and a sunnier economic outlook that allowed the largest U.S. bank to release money it had set aside for potential loan losses during the coronavirus pandemic.
JPMorgan’s third-quarter profit was 24% higher than the same period last year, and the bank’s average loans and deposits rose, as did credit-card spending, helping JPMorgan’s lending income rise 2.5% from the second quarter.
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