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...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...The division has lagged behind rivals such as JPMorgan Chase, Morgan Stanley and BofA’s Merrill Lynch franchise, however....
...Senior bankers at Goldman Sachs and JPMorgan Chase cautioned that the US Basel III endgame proposals risked draining the financial markets of liquidity and would drive up costs for borrowers....
...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....
...Shares in Citi fell 1.7 per cent on Friday, but less than those of rival JPMorgan Chase, which ended the day 6.5 per cent lower....
...JPMorgan Chase has said it believes its growing UK retail operations could be profitable much sooner than expected....
...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...
...Additional reporting by Arash Massoudi, Stephen Morris and Ivan Levingston...
...Pay for Morgan Stanley’s top executive James Gorman, rose nearly 18 per cent to $37mn, while JPMorgan Chase upped its chief executive Jamie Dimon’s pay by 4 per cent to $36mn....
...Larger banks such as JPMorgan Chase, Bank of America and Wells Fargo also saw their profits fall in the final quarter of 2023....
...The average reserves at JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs and Morgan Stanley have fallen from $1.60 to 90 cents for every dollar of commercial real estate debt on which...
...By contrast, Wall Street banks Goldman Sachs, JPMorgan Chase and Morgan Stanley have all awarded their chief executives with pay rises....
...Despite this, in recent days executives from the country’s four largest banks — JPMorgan Chase, Bank of America, Citigroup and Wells Fargo — said during earnings calls that consumers were resilient....
...Credit card lending is a concentrated business: about half of the loans are made by four big banks, led by JPMorgan Chase, with the next two dozen largest banks accounting for the majority of the rest....
...The need to offer higher rates to keep deposits, which is the primary source of funding for banks, has remained a strain on the profit margins of smaller banks, even as larger lenders like JPMorgan Chase...
...tied to borrowers who have not made a payment in at least the past 90 days — are expected to have risen to a combined $24.4bn in the last three months of 2023 at the four largest US lenders — JPMorgan Chase...
...JPMorgan Chase, the largest US bank by assets, last April began requiring all senior managers to be in the office five days a week, up from three. The bank declined to comment....
...JPMorgan Chase chief executive Jamie Dimon last year argued that the proposals risked making US bank stocks uninvestable....
...Goldman Sachs and JPMorgan Chase have completed just three IPOs in Shanghai since they in 2021 became the only two US banks to open wholly owned investment banking units in China....
...JPMorgan Chase has stepped up efforts to lure New York’s top lawyers to its private bank, seeking to break rival Citigroup’s stranglehold on some of Wall Street’s wealthiest clients....
...Goldman Sachs, JPMorgan Chase and Morgan Stanley won approval to take total or near-total ownership of their mainland investment banking operations in 2021, before Citi made its own application at the end...
...JPMorgan itself has previously trumpeted the fact that Dimon had “not sold a single share of JPMorgan Chase common stock”....
...That handily outperformed rivals, including Citigroup, JPMorgan Chase, Goldman Sachs and Morgan Stanley, which had seen revenue declines between 3 per cent and 13 per cent in their markets businesses....
...WhatsApp to Stephen: Flying back tonight to start work on this Times effort. Let’s hope it runs and runs. WhatsApp to Stephen: Damn!...
...Earnings at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup were up 23 per cent according to BankRegData, which collates quarterly reports from lenders to the Federal Deposit Insurance Corporation...
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