JPMorgan’s net income soars on spending cuts

By Staff | April 12, 2013 | Last updated on April 12, 2013
1 min read

Aggressive job cuts and cost containment by the big U.S. banks have started to show results.

JPMorgan Chase beat expectations to report a 33% rise in its net income to $6.5bn in the first quarter, reports

However, the “bumper profit” was also a function of improving U.S. economy, increased borrowing and debt issuance.

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The staff of have been covering news for financial advisors since 1998.