Published by Wealth Briefing Asia – 17th July 2017
The US bank reported a broadly strong set of results, including for its wealth management segment.
JP Morgan today reported that assets under management hit a record of $1.9 trillion at the end of June, up 11 per cent on a year earlier, while net income surged 20 per cent in the three months to June 30, standing at $3.2 billion.
The Wall Street-listed titan logged net income of $7.029 billion, up 13 per cent on the same quarter a year earlier and up 9 per cent versus the first three months of 2017.
Net revenue rose 5 per cent year-on-year to $26.4 billion, the bank reported.
Within asset and wealth management, net income for Q2 rose 20 per cent to $624 million; it surged 62 per cent from the previous quarter. Net revenues rose 9 per cent on the quarter, to reach $3.12 billion.
