JPMorgan Chase sees ‘appreciable turbulence’ dealing with economic system as income rise, ETCFO
New York, Apr 11, 2025 -JPMorgan Chase reported larger income Friday pushed partly by a leap in buying and selling revenues amid market volatility as CEO Jamie Dimon warned of “appreciable turbulence” dealing with the economic system.
The enormous US financial institution reported first-quarter income of $14.6 billion, up 9 p.c from the year-ago stage in outcomes that topped analyst expectations.
Revenues had been $45.3 billion, up eight p.c.
The lender had a gradual efficiency throughout companies, with the largest income coming from its company and funding financial institution.
Fairness markets revenues soared 48 p.c because the financial institution pointed to an particularly robust efficiency in derivatives “amid elevated ranges of volatility,” JPMorgan mentioned in a press launch.
The financial institution additionally scored larger revenues in trades related to rates of interest and commodities.
However funding banking purchasers “have turn into extra cautious amid a rise in market volatility pushed by geopolitical and trade-related stress,” Dimon mentioned.
Dimon in current days has warned of an elevated threat of recession as a result of President Donald Trump’s aggressive commerce coverage, with China responding to Trump’s newest tariff hike with an escalation of its personal.
“The economic system is dealing with appreciable turbulence (together with geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and ‘commerce wars,’ ongoing sticky inflation, excessive fiscal deficits and nonetheless moderately excessive asset costs and volatility,” Dimon mentioned.
JPMorgan put aside extra reserves of $973 million in case of mortgage defaults, an indication that it’s getting ready for a doubtlessly weaker economic system. General provisions rose 75 p.c from the year-ago stage.
Shares jumped 2.5 p.c in pre-market buying and selling.
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