(REUTERS) JPMorgan Chase & Co reported substantially higher first-quarter earnings on Wednesday, as the largest U.S. bank released more reserves and was aided by a blowout quarter from its trading desks and soaring investment banking fees. JPMorgan, widely seen as a barometer of the health of the broader U.S. economy, was also helped by favorable comparisons to last year when the COVID-19 pandemic forced the bank to build reserves against the risk of a wave of loan defaults.
JPMorgan profit surges on huge trading, investment banking boost
This entry was posted in Syndicated. Bookmark the permalink.
