Summary
JPMorgan Chase, the third biggest US bank, today gave further evidence of the phenomenal profits made by investment banks this year as it announced a 48% jump in overall fourth-quarter earnings and its most profitable year ever.
Record demand for mergers advice and a yearlong stock market rally pushed up investment banking earnings by more than 50 % to $1 billion (Pounds 507 million). Overall profits rose from $2.64 billion to $3.91 billion.See the full content of this document
Extract
Jpmorgan Surges to a Record $3.9 Billion
The bank said it ad...
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