JPMorgan, with billions of dollars in profits
The largest U.S. Bank JPMorgan has had to make in the second quarter, strong smears due to the Corona pandemic. Nevertheless, the US leader in the industry with a stick and still make a profit, which most other companies can only dream of. The bottom line is that JPMorgan earned according to the notification dated Tuesday, nearly 4.7 billion dollars (4.1 billion euros), about half as much as in the corresponding prior-year period. Experts had expected much less, the share price rose shortly after the start of trading. JPMorgan Chase & co. 86,52 EUR -0,90 (-1,03%) Tradegate
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reported To the market data at JPMorgan, although a two-digit billion exposure because of the risk of loan losses, was able to cushion the impact of the crisis so far, but overall good. Positive income, which rose compared to the previous year by 15 percent to almost $ 34 billion surprised. The Bank benefited among other things from the rain transactions in the financial markets and in investment banking. “In these unprecedented times, JPMorgan remains stable,” said CEO Jamie Dimon.
Wells Fargo first quarterly loss since 2008
much worse was the fate of the rival Wells Fargo lost the bottom line, according to a statement from Tuesday’s 2.4 billion dollars (2.1 billion euros). High provisions for loan losses, the balance sheet, expressed as solid a Minus. For comparison: In the corresponding prior-year period, Wells Fargo had earned 6.2 billion dollars. The income fell by a total of about 17 percent to 17.8 billion dollars.
Wells Fargo is already for Affairs to fictitious accounts
pre-loaded, In contrast to the US competitors, the weaknesses in the lending business with their investment banking and trading divisions, offset, hold back, Wells Fargo has traditionally had.
it is Also pre-loaded the money home, due to conditions, due to Affairs to fictitious accounts, and other dubious business practices are already strong. On the market, the Numbers didn’t go down well – the share price slipped soon after start of trading by nearly eight per cent to Minus. Particularly displeased investors that Wells Fargo has cut the dividend more than expected. Wells Fargo & Co 21,81 EUR to -0.40 (-1,78%) trade gate To the rate of data
Citigroup creates again a billion profit
Billions a buffer against credit defaults in the Corona-crisis, the Citigroup again heavily loaded. Nevertheless, the Bank managed in the second quarter, again a billion profit. The Surplus fell compared to the previous year by 73 percent to 1.3 billion dollars (1.1 billion euros), as Citigroup announced in New York. Citigroup 44,84 EUR -0,59 (-1,30%) Tradegate
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the course data So that the financial group was better than analysts expected. The large banks are opening up traditionally, the quarterly balance sheet of US companies dance. They are an important indicator of how hard the pandemic hits the economy.
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