JPMorgan Chase exceeds expectations

JPMorgan Chase Bank reported better-than-expected quarterly results on Tuesday despite a low interest rate environment affecting margins in traditional lending and deposit business, but chief executive Jamie Dimon warned that US growth "has slowed slightly.

Net income increased 8.35% to $ 9.08 billion in the three months ended September 30, resulting in adjusted earnings per share, a benchmark in North America, of 2 million. 68 dollars, against 2.45 dollars expected on average by analysts.

The turnover, he, increased 7.3% to $ 29.3 billion, higher than the 28.49 billion anticipated, said the bank in a statement.

Net interest income, ie income generated by interest-rate activities, increased by 2%, but could have been higher if interest rates had not been higher. not so low, says the first American bank.

Overall, lending to households and businesses declined slightly by 1%, as the strong 8% increase in consumer credit could not fully offset a drop in mortgage lending.

Loans and deposits are an important part of the financing activity of the US banks' economy.

Any movement on Federal Reserve rates therefore has an impact on the interest rates charged to the credits they grant.

In response to the slowdown in the global economy, the Fed lowered its key interest rate on September 18 to between 1.75% and 2%. Clearly, borrowing money should become cheaper.

"In the United States, gross domestic product slowed slightly. While consumption remains in shape due to higher wages and spending coupled with low unemployment, business confidence and investment have weakened due to geopolitical risks, including trade tensions. ", Warned Jamie Dimon, also boss of American bosses, quoted in the release.

The company's investment banking division, which houses brokerage activities and corporate advisory services in mergers and acquisitions and IPOs, saw its quarterly revenues increase by 6%, despite a lower commissions collected by business bankers.

The brokerage of commodities, currencies and bonds (Fixed income), to the sentence for several months, has registered, to the surprise, a 25% jump in revenue.