Global Banking Monitor

Saturday, September 7, 2024

Stripe employees get to sell $1bn of shares

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HomeBankingJPMorgan Benefits from Profit...

JPMorgan Benefits from Profit Growth Due to Higher Interest Rates

By Pete Sadler
Image by Gerd Altmann from Pixabay

JPMorgan Chase said earnings from its lending business would continue to increase this year on the back of higher interest rates as the largest US bank reported a jump in profits in the second quarter.

The group said on Friday that net income had jumped 67 per cent year on year to $14.47bn, ahead of analysts’ estimates of $11.9bn, according to consensus data compiled by Bloomberg.

Read More : JPMorgan Benefits from Profit Growth Due to Higher Interest Rates

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