Q4 recovery for JP Morgan Chase
(27 January 2004 – USA) JP Morgan Chase has posted a Q4 net income of US$1.86 billion, compared with a net loss of $387 million for the corresponding period last year.
The bank attributed the recovery to a strong performance in investment banking allied with lower credit costs. Last time around the bank was also slugged for $1.3 billion due to its dealings with failed energy company Enron.
JP Morgan Chase chief executive William Harrison said the result was the best quarterly performance since it merged investment and private banking.
JP Morgan Chase chief executive William Harrison said the result was the best quarterly performance since it merged investment and private banking.
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