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JP Morgan Chase 4Q Profits Dip To $10.4 Bn, But Tops Estimates


JP Morgan Chase 4Q profits dip to $10.4 bn, but tops estimates

JP Morgan Chase reported a dip in fourth-quarter profits Friday as higher costs for employee compensation offset a benefit from an improving economy that has reduced reserves in case of defaults

New York, (APP – UrduPoint / Pakistan Point News – 14th Jan, 2022 ) :JP Morgan Chase reported a dip in fourth-quarter profits Friday as higher costs for employee compensation offset a benefit from an improving economy that has reduced reserves in case of defaults.

Earnings came in at $10.4 billion, down 14 percent from the year ago period. The results included $1.8 billion in reserve releases from funds that were set aside earlier in the pandemic in case of bad loans.



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