JPMorgan's net income soars on spending cuts

JPMorgan’s net income soars on spending cuts

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 FT.com. However, the “bumper profit” was also a function of improving U.S. economy, increased borrowing and debt issuance. Also […]

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 FT.com.

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

Staff

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

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