« Government moves to open BEE verification to auditors | Main | WorleyParsons acquires South African firm »
January 15, 2011
Banking giant's earnings pick up, but US Christmas sales disappoint
JPMorgan Chase & Co reported a 47% increase in quarterly earnings, but much of the gain came from dipping into money previously set aside to cover bad loans.
The gradually recovering US economy is allowing JPMorgan to keep less money on hand for loan losses. Profit and revenue was stronger than expected, and the bank made more loans.
Posted by StaffWriter at January 15, 2011 7:35 AM