JP Morgan Sees Profits Explode And Raises The Bar In Opening Balance Sheets


Share post:

VEJA Market: The institution benefits from high-interest rates and the acquisition of First Republic Bank.

The American bank JP Morgan opened the season for corporate balance sheets abroad and raised the bar for local financial institutions. The bank recorded a net profit of 14.5 billion dollars (70.5 billion reais) in the second quarter of 2023. The number is 67% higher compared to the same period in 2022. The so-called earnings per share were 4.75 dollars, well above the $3.97 expected by analysts polled by FactSet. The scenario of high-interest rates and the purchase of First Republic Bank by the institution boosted the numbers. The acquisition prevented the bank from going bankrupt and increased the size of JP Morgan – which revised its 2023 earnings forecast from US$84 billion to US$87 billion.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Related articles

Theo Hernandez And His Girlfriend: A Glimpse Into The AC Milan Star’s Personal Life

AC Milan's dynamic left-back, Theo Hernandez, has been making waves on the football pitch with his impressive performances, but...

Revolutionizing Transportation: The Rise Of Electric Scooter Rental Apps

In the dynamic world of electric vehicle (EV) rentals, staying ahead means embracing technology that not only meets...

Empowering Through Unmatched Experiences With COLLECTIVE: J. Fred Huther

We recently had the privilege of interviewing J. Fred Huther, Managing Partner, Events and Experiences at COLLECTIVE. Intending...

Timothy Witucki: Redefining Remote Staffing At Omada One

Timothy Witucki is a visionary leader with a distinguished career spanning over three decades. As an American entrepreneur,...