- Tweet
- Share this
- Email
- Print

A man walks past JPMorgan Chase & Co's international headquarters on Park Avenue in New York July 13, 2012.
Credit: Reuters/Andrew Burton
NEW YORK | Wed Jan 16, 2013 7:22am EST
NEW YORK (Reuters) - JPMorgan Chase & Co (JPM.N) said fourth-quarter net income jumped 53 percent as the largest U.S. bank made more mortgages and saw a decline in costs for bad loans.
Net income rose to $5.69 billion, or $1.39 a share, from $3.73 billion, or 90 cents a share, a year earlier. Results for both periods included special items, the company said on Wednesday.
The company also released more information about its investigations of its $6.2 billion London Whale trading loss in a regulatory filing.
Revenue from mortgage production, excluding losses on repurchases of past loans, increased 51 percent to $1.6 billion.
The provision for credit losses plunged 70 percent to $656 million.
"We continued to see favorable credit conditions across our wholesale loan portfolios and strong credit performance in our credit card portfolio," Chief Executive Jamie Dimon said in a statement.
(Reporting by David Henry in New York and Rick Rothacker in Charlotte, North Carolina; Editing by Jeffrey Benkoe)
Related Quotes and News
Company
Price
Related News
- Tweet this
- Link this
- Share this
- Digg this
- Email
- Reprints
Comments (0)
Be the first to comment on reuters.com.
Add yours using the box above.
0 comments:
Post a Comment