JPMorgan Chase’s Profit Grows By 8% This 3rd Quarter

Profit of JPMorgan Chase Increased by 8% this 3rd Quarter

JPMORGAN CHASE – The profit of United States’ largest bank when it comes to assets grew by 8% this 3rd quarter of 2019.

The United States is one of the countries with the most progressive banking companies. It has more than 100 banks that can really be considered as the largest.

Almost all of these banks got loan offers, investment products and opportunities, major credit cards, and a lot more. Their services have undeniably contributed a lot to their growth over time.

When it comes to assets, the largest bank in the United States is JPMorgan Chase & Co. It is a multinational investment bank that caters different financial services to the public.

JPMorgan Chase
Photo Credit: Mike Segar / Reuters

The main headquarters of this giant banking company is found in New York City. It landed on the 6th spot when it comes to the largest banks in the world in terms of assets.

Based on a recent report on The Washington Post, JP Morgan Chase’s profit grew by 8% this 3rd quarter of year 2019. The higher interest rates implemented has contributed on its growth.

From $8.38 billion last year or $2.34 per share, the bank got $9.08 billion or $2.68 per share as September 30 ended. It is over the expectations of the analysts that it will make $2.45 per share.

Based on the report, with regards to the consumer banking business of the JPMorgan Chase, the bank’s biggest division, it has a growth of 5% compared to last year’s profit. Home lending businesses greatly contributed to it.

The investment bank profited 7% by the trading desks. From $27.26 billion last year, the bank’s total revenue this year rose to $29.34 billion.

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