JPMorgan's Profit Machine Motors On Even as Trading Tumbles
- Net interest margin climbs to highest in more than four years
- Fixed-income revenue plunges 27%, equity revenue drops 3.6%
JPMorgan FICC Trading Revenue Tumbles in 3Q
This article is for subscribers only.
Another quarterly drop-off in trading didn’t keep JPMorgan Chase & Co. from posting higher revenue and a fatter profit.
The biggest U.S. bank showed once again on Thursday that it can weather a downturn in fixed-income trading by generating growth elsewhere. An increase in corporate loans, the highest lending margin in 4 1/2 years and record profit in asset management helped the lender top analysts’ estimates.