JPMorgan Chase has kicked
off the US reporting season with a full year net profit of $17.4bn,
up 48% from $11.7bn the prior year.
CEO Jamie Dimon said that
JPMorgan Chase had “come through the worst economic storm in recent
history stronger than we have ever been.”
Go deeper with GlobalData
The bank’s Retail
Financial Services (RFS) unit posted a net profit of $2.53bn
compared with $97m the prior year.
Chase’s Card Services unit
returned to the black, posting net income of $2.07bn, compared with
a net loss of $2.22bn the previous year.
Provisions for credit
losses more than halved across the group, from $38.5bn in fiscal
2009 to $16.6bn.
Retail banking sector
highlights in fiscal 2010 included:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData- Chase added more than 150
branches to its network; it now has 5,268 units; - More than 1.5m net new
current accounts were opened during 2010, bringing total checking
account numbers to 27.3m, an - Chase’s card unit opened
11.3m new accounts while sales volume was up 9% during
2010.
Consumer lending increased
by 8% during fiscal 2010 to $465.3bn while average total deposits
at Chase’s RFS unit were $338.7bn, up 3% from the prior
year.
