JPMorgan Q2 profit rose 25% as bank cashed in holdings in Visa ...Middle East

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JPMorgan Q2 profit rose 25% as bank cashed in holdings in Visa
AP Business Writer NEW YORK (AP) — JPMorgan Chase says profits jumped sharply in the second quarter as the bank cashed in billions of dollars of its holdings in Visa Inc. But the bank’s results were also helped by higher interest rates, as well as consumers who seemed to still want to spend, despite geopolitical and economic uncertainties. The nation’s biggest bank by assets posted a profit of $18.15 billion, up 25% from a year earlier. A significant part of JPMorgan’s results was a $7.9 billion gain on its stake in Visa. Without that, profit fell compared with the year-ago quarter. The post JPMorgan Q2 profit rose 25% as bank cashed in holdings in Visa appeared first on News Channel 3-1

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