JPMorgan’s Profit Shrinks, but Chief Says U.S. Customers Are ‘Healthy’
The bank earned $9.7 billion in the third quarter, down from last year. It also added to reserves against loan losses and took a hit on some investments.
Posted inBanking and Financial Institutions Citigroup Inc Company Reports Consumer Behavior Credit and Debt Dimon, James Fraser, Jane (1967- ) Gorman, James P JPMorgan Chase & Company Morgan Stanley Scharf, Charles W United States Economy Wells Fargo & Company
JPMorgan, Citigroup and Other Big Banks See Profits Drop
Lenders foresee economic “headwinds,” but household spending is mostly holding up, buffering profits from turmoil in financial markets.