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...Trading emerged as a bright spot for many banks in first-quarter earnings reported over the past week, with revenues from stock and bond trading faring better than analysts were expecting at JPMorgan Chase...
...Under the terms of JPMorgan’s investment in Viva, the bank can take full control of the fintech if its value is below €5bn in June 2025. The bank has a 48.5 per cent stake in Viva....
...JPMorgan Chase chief executive Jamie Dimon had a one-on-one lunch at the White House last week with vice-president Kamala Harris, according to people familiar with the matter....
...Remember, the Covid-19 pandemic caused a crisis of almost every other kind, but big US banks didn’t collapse....
...This is not just a matter of regulation, though....
...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...JPMorgan Chase shares fell by the most in almost four years on Friday as an underwhelming outlook for its lending business overshadowed an increase in first-quarter profits at the US’s largest bank....
...“Just as a very limited number of stocks were responsible for the majority of gains in the MSCI USA, drawdowns in the Top 10 could pull equity markets down with them.”...
...Listening to a recent FT Behind the Money podcast about JPMorgan Chase, however, made me wonder if banks might not be the most interesting and perhaps even the most extreme example of that dynamic....
...A new unit, Chase Media Solutions, will help brands target the bank’s customers based on their spending history....
...This could force refiners to chase the lowest-cost raw materials, often produced in China....
...The biggest profit driver was Citi’s corporate and investment bank, where fees jumped about 50 per cent from a year ago....
...If you want to include all non-bank lending to the private sector, then you get a figure that is very large indeed!...
...Despite being the number six US bank by size, it only has a sixth of JPMs assets. It is still basically a regional bank, albeit a big one....
...Profits at JPMorgan Chase rose 6 per cent in the first three months of 2024 from a year earlier, despite the bank paying an extra $725mn charge by US regulators to cover the costs from last year’s regional...
...Other top banks Citigroup, JPMorgan Chase and Wells Fargo also recorded drops in lending in the first three months of the year as they revealed results late last week....
...But banks led by JPMorgan Chase lobbied hard to underwrite a financing over the past four months....
...The challenge of turning this motley crew into a usable acronym meant that O’Neill simply called them the N-11....
...It’s definitely growing, as Bank of America points out in a recent note....
...The bank takes an optimistic view, and wrote that “2024 may finally be the year that proves that an exit path to prolonged sovereign defaults indeed exists,” thanks to Zambia’s deal, along with reports that...
...Over the past two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase...
...The bank said in a proxy filing also released on Monday that “an orderly CEO transition in the medium term” was a top priority for its board of directors....
...These were bigger gains than at rival banks JPMorgan Chase and Citigroup, which reported results last week. Investment banking, meanwhile, had its best quarter in two years, with revenues of $2.1bn....
...At JPMorgan Chase, investment banking head Vis Raghavan regularly told recruits, “You’re either reading the news or making the news.”...
...The bank’s burst of friendly fire comes just a few weeks after the Bank for International Settlements became the latest to flag that the explosion of option-based investment funds may be contributing to...
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