(CercleFinance.com) – JPMorgan Chase publishes net profit up 6% to $13.4 billion for the first three months of 2024, or $4.44 per share (+8%), driven by a 17% reduction in its provisions for credit losses to 1.88 billion.
The New York bank’s revenues increased by 8% to more than $42.5 billion, boosted by the acquisition of First Republic, without which they increased by 4%, thanks in particular to the impact of the mix of balance sheet and at higher rates.
However, its non-interest expenses increased by 13% (+9% excluding First Republic) to nearly $22.8 billion due to higher personnel costs and an additional charge linked to the FDIC (Federal Deposit Insurance Corporation). .
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