{"id":155393,"date":"2021-01-15T17:46:07","date_gmt":"2021-01-15T14:46:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jpmorgan-posts-strong-final-quarter-of-2020-sounds-optimistic-for-2021\/"},"modified":"2021-01-15T17:46:07","modified_gmt":"2021-01-15T14:46:07","slug":"jpmorgan-posts-strong-final-quarter-of-2020-sounds-optimistic-for-2021","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jpmorgan-posts-strong-final-quarter-of-2020-sounds-optimistic-for-2021\/","title":{"rendered":"#JPMorgan posts strong final quarter of 2020, sounds optimistic for 2021"},"content":{"rendered":"

“#JPMorgan posts strong final quarter of 2020, sounds optimistic for 2021<\/strong>”
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Jamie Dimon is feeling better about 2021.<\/p>\n

The JPMorgan Chase chief announced Friday morning that his bank released $2.9 billion \u2014 or about 10 percent \u2014 from the massive cash horde it built to absorb future loan losses related to the pandemic.<\/p>\n

The decision shows that \u201cAmerica\u2019s Banker\u201d is a bit more sanguine about the future and also carried the bank to a monster final quarter of 2020.<\/p>\n

America\u2019s largest bank reported earnings per share of $3.79, crushing Wall Street\u2019s estimate of $2.62. JPMorgan also posted revenue of $30.16 billion, easily beating the street\u2019s $28.7 billion estimate.<\/p>\n

The megabank\u2019s quarter was strong enough that Dimon did not even need the 72 cents he gained per share by putting $2.9 billion back on his books, but cutting into his rainy day fund sends a strong message to Wall Street and Washington.<\/p>\n

But Dimon\u2019s message wasn\u2019t all sunshine.<\/p>\n

\u201cWhile positive vaccine and stimulus developments contributed to these reserve releases this quarter,\u201d the 64-year-old executive said in a statement. \u201cOur credit reserves of over $30 billion continue to reflect significant near-term economic uncertainty and will allow us to withstand an economic environment far worse than the current base forecasts by most economists.\u201d<\/p>\n

JPMorgan\u2019s performance was strong across the board for 2020 as the Federal Reserve\u2019s accommodation helped consumer deposits grow 30 percent, a booming IPO market pushed global investment banking fees up 34 percent, and frothy markets helped JPMorgan\u2019s trading desk to a 20 percent surge.\u00a0<\/p>\n

Overall, Dimon made it clear he was cautiously optimistic about the picture for 2021, predicting \u201ca cloudy next two quarters\u201d and reminding press on the call that \u201c4,000 people a day are dying.\u201d<\/p>\n

\u201cI think you will have a better economy in the second half of 2021,\u201d Dimon predicted, saying it wasn\u2019t just good for the bank but good for America. \u201cHopefully we\u2019ll be getting through this mess.\u201d<\/p>\n

But Dimon also urged caution saying \u201cIf these vaccines don\u2019t work, all bets are off.\u201d<\/p>\n

The bank declined to answer whether it had closed President Donald Trump\u2019s personal accounts like Signature Bank announced it had earlier in the week.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#JPMorgan posts strong final quarter of 2020, sounds optimistic for 2021” Jamie Dimon is feeling better about 2021. The JPMorgan Chase chief announced Friday morning that his bank released $2.9 billion \u2014 or about 10 percent \u2014 from the massive cash horde it built to absorb future loan losses related to the pandemic. The decision…<\/p>\n","protected":false},"author":1,"featured_media":155394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/10\/Jamie_Dimon.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[89643,71939,70237,70791,70792,70360],"class_list":["post-155393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-15-21","tag-banks","tag-corporate-earnings","tag-jamie-dimon","tag-jpmorgan-chase","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/155393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=155393"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/155393\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/155394"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=155393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=155393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=155393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}