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JPMorgan net profit in the first quarter rose 35%

18.04.2018 08:14:18

In the first quarter, the largest in terms of assets bank in the US, JPMorgan, increased its net profit to 8 billion 710 million dollars from 6 billion 450 million dollars a year earlier. Revenues amounted to 28 billion 520 million dollars, increased by 10%. Analysts had expected revenues of $24 billion 750 million. Net interest income in annual terms increased by 9% to 13.5 billion dollars. The retail division of the bank increased its net profit by 15%, its revenue increased 1.5 times. Corporate and investment bank JPMorgan increased revenue by 7% and increased its profit by a quarter in annual terms. The unit's profit in asset management grew 2-fold, revenue increased by 7%. The bank reduced its deductions to the reserves for loan loss by 11%.

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