Question:

JP Morgan Chase among the Healthier Banks

by Maira | 3 years, 1 month(s) ago

Tags: banks, Chase, healthier, JP, Morgan

Report

Sort By: Date | Rating

zarnigar

The US government has been pumping in money to bail out several banks from the economic storm. JP Morgan Chase wants to pay back the emergency fund that they had taken from the US Government. The decision comes due to the excessive political influence in the banking system, Jamie Dimon, the chief executive of JP Morgan Chase clearly wants to get rid of this burden as soon as possible. Other executive in the Wall Street share a similar view as well. The government has put a restriction on the acquisitions, the dividend figure, other major strategic decisions like recruitment, outsourcing, etc. JP Morgan Chase is considered to be one of the healthier banks in the country. Its performance is compared to other banks. JP Morgan Chase surprised the analysts by showing a smaller drop in the profits than it was expected. The investment bank showed profits of $ 1.6 billion. The credit crunch has taken the toll in its credit cards profits with a loss of $ 547 million. The rising number of unemployment has only added to the woes of the banking sector with the customers barely managing to clear their monthly credits.
Report (0) (0) | 3 years, 1 month(s) ago