JPMorgan profits crash ...News

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JPMorgan profits crash
source : Russia Today ( News ) () 41
Wall Street bank reports losses due to Russia exit over Ukraine conflict JPMorgan Chase said on Wednesday its first-quarter profit has dropped by 42% from last year, partly because the bank wrote down nearly $1.5 billion in assets due to higher inflation and the winding down of business in Russia amid the conflict in Ukraine. The bank, the largest in the US by assets, said that profit fell to $8.28 billion, or $2.63 a share, missing Wall Street expectations of $2.72 per share. Revenue dropped a more modest 5%, to $31.59 billion. CEO Jamie Dimon said in a statement that the bank sees “significant geopolitical and e

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