while the revenue dropped from previous year, a decline in customer losses highlighted improving financial circumstances for both business and consumers as the economy started to improve. Their net income was risen to $5.56 billion during the first quarter of the year, and they also reported that it was $3.33 billion in 2010. But still they were able to cut funds by 83%. JP Morgan Chase's first quarter revenue did fall by 8% to $25.8 million, and the bank's retail division lost $208 million.
Apart from all the downsizing and receiving funds from TARP, Chase had shown me that they are getting back on track by returning the money, so that other people can invest in them, and maybe help other countries that are still struggling with the economy.
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That's interesting, but look at how much they spend on bling bling now. I think they'll never learn how to work efficiently.
ReplyDeleteHi?
ReplyDeleteNice, that you've found about JP Morgan, but i can't help but to correct that TARP fund that allocated to JP Morgan was $25 billion and not million. quite a lot of money these banks need to get back on track.
source : http://www.businessinsider.com/jpmorgan-chase-repays-all-of-its-tarp-funds-2009-6
and
http://investor.shareholder.com/jpmorganchase/releasedetail.cfm?releaseid=390330
Ganaa