(reuters) – jpmorgan chase & co. published thursday, quarterly results above the expectations of wall street, but marked by a decline in brokerage activities on the financial markets.
the title was 0.66% in 96,20 dollars in transactions prior to the commencement of the meeting on the new york stock exchange.
these results are strong, but not exceptional, “said jim sinegal, an analyst at morningstar.
as expected, the financial markets has been the point of the third quarter to jpmorgan, and this should also be the case for all the other major us banks that publish their results in its wake.
this is compared to 2016, when she had been inflated by the volatility of international markets as a result of the vote in favour of the brexit and the presidential election in the united states.
jpmorgan, the first american bank in terms of assets, having regard to the turnover of the bond brokerage down 27 per cent in the third quarter, the market shares of the trading contract by 4 per cent.
in total, the income from the business of market decreased by 21% in the third quarter. jamie dimon, the ceo of the bank, said last month, a decrease of about 20%.
jpmorgan has managed to limit the impact on the growth of its loan portfolio and its net interest income.
“as the global economy continues to perform well and the situation of the american consumer is healthy, with strong growth in wages,” said jamie dimon, as cited in a press release issued by the bank.
the size of the loan portfolio of jpmorgan rose by 7% a year, but this rate is about two times lower than in the third quarter of 2016.
u.s. banks are faced with the gradual increase in interest rates by the federal reserve, which affects the demand for credit, while the american president donald trump to achieve campaign promises to support growth.
the rate of increase is in contrast to net interest income, the jpmorgan rose 10% to 12.8 billion (10.81 billion) in the third quarter.
the net proceeds of the total banking institution has increased by 2.7% to $26.2 billion, while analysts expected on average to 25.23 billion.
net income rose from 7.1% to 6.73 billion, or $1.76 per share, compared to $1.65 a gap for the consensus thomson reuters i / b / e / s, the rise of bpa was facilitated by share repurchases made by the bank in the past year.
(sweta singh in bangalore and david henry, new york, catherine mallebay – vacqueur and bertrand boucey for service in french, edited by juliet rouillon.
copyright & copy;, thomson reuters
Translated by forexguides.info Team