JPMorgan quarterly profit soars to record
CEO Jamie Dimon says US stimulus spending means the economy could see extremely robust, multiyear growth
14 April 2021 - 17:00
New York —JPMorgan Chase’s dealmakers just helped usher in the firm’s best quarter on record, but shares fell as the bank warned that loan demand remains tepid.
Investment-banking fees soared 57%, beating analysts’ estimates and boosting net income to $14.3bn, the most JPMorgan has ever earned in a single quarter, according to a statement on Wednesday. A larger-than-expected reserve release added to the windfall as the bank determined it didn’t need as much socked away for future loan losses...
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