Finance

US banks announced their last quarter balance sheets

US investment banks JPMorgan Chase, Bank of America, Citigroup and Wells Fargo announced their balance sheets for the fourth quarter of last year.

According to the statement made by JPMorgan Chase, the institution’s net profit in the fourth quarter of last year increased by approximately 6 percent compared to the same period of the previous year, reaching $11 billion. The bank reported a net profit of $10.4 billion in the fourth quarter of 2021. The corporation’s earnings per share also rose to $3.57 in the fourth quarter of last year. Earnings per share of the bank was $3.33 in the same period of the previous year. JPMorgan Chase’s fourth-quarter 2022 revenue rose 18 percent year-on-year to $34.6 billion.

JPMorgan Chase Chief Executive Officer (CEO), Jamie Dimon, said in the statement that the US economy remains strong, consumers are still spending and businesses are healthy. “But we still don’t know the ultimate impact of headwinds from geopolitical tensions in Ukraine, including the war, the fragile state of energy and food supplies, sustained inflation that undermines purchasing power and raises interest rates, and unprecedented monetary tightening,” Dimon said. made its assessment.

Bank of America’s fourth-quarter net profit climbed to $7.1 billion

According to the statement made by Bank of America, the net profit of the bank in the fourth quarter of last year increased by 1 percent compared to the same period of the previous year, reaching $ 7.1 billion. The bank reported a net profit of $7 billion in the fourth quarter of 2021.

Earnings per share of the corporation also climbed to $0.85 in the last quarter of last year. The bank’s earnings per share stood at $0.82 in the same period of 2021.

Bank of America’s revenue in the fourth quarter of 2022 increased by 11 percent compared to the same period of the previous year, reaching $24.5 billion.

Citigroup’s net profit fell 21 percent

According to the statement made by Citigroup, the net profit of the bank in the fourth quarter of last year decreased by 21 percent compared to the same period of the previous year, to $ 2.5 billion. The bank had a net profit of $3.2 billion in the fourth quarter of 2021.

Earnings per share of the corporation was recorded as $1.16 in the fourth quarter of last year. Citigroup’s earnings per share was $1.46 in the same period of 2021.

The revenue of the bank in the fourth quarter of last year increased by 6 percent compared to the same period of the previous year and reached 18 billion dollars. Citigroup announced that its revenue in the same period of 2021 was $ 17 billion.​​

Wells Fargo’s net profit fell 50 percent

Wells Fargo’s net profit and revenue decreased in the last quarter of 2022 compared to the same period of the previous year.

According to the statement made by the bank, the institution’s net profit in the fourth quarter of last year decreased by 50 percent compared to the same period of the previous year, to $ 2.9 billion. The bank had a profit of $5.8 billion in the fourth quarter of 2021.

Earnings per share of the corporation declined to $0.67 in the last quarter of last year. The bank’s earnings per share stood at $1.38 in the same period of 2021.

Wells Fargo’s revenue in the fourth quarter of 2022 decreased by 6 percent compared to the same period of the previous year, to $19.7 billion. The bank generated $20.9 billion in revenue in the same period of 2021.

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