In the fourth quarter this morning, JPMorgan announced a $3.3 billion profit thanks to their investment-banking operations and the large number of fees that it has begun charging its customers. The numbers beat all expectations and allowed the firm, which had declared a profit in every quarter of the financial crisis, to seal an awful year with on a high note. They received $11.7 billion in total, which is more than twice what they made in 2008. Apparently, it wasn’t enough for JPMorgan’s CEO, Jamie Dimon. “We are gratified that we generated earnings of $3.3 billion for the fourth quarter and nearly $12 billion for the year. Though these results showed improvement, we acknowledge that they fell short of both an adequate return on capital and the firm’s earnings potential,” he said.
Via: NY Mag
