JP Morgan achieved record earnings of $ 36.4 billion

A strong one Investment Banking and robust business with private customers to have JP Morgan to a record profit helped. The fourth quarter surplus increased 21 percent to $ 8.52 billion, according to the largest bank in the world United States announced on Tuesday. The full-year profit rose to a new high of $ 36.4 billion – twice as much as the German
Bank on the stock exchange is worth it. JP Morgan shares rose 1.9 percent after the unexpectedly high result.

The bank has benefited from the stabilization of global growth and the good mood of consumers, said CEO Jamie Dimon, in the Investment Banking could JP Morgan posted strong growth in the final quarter of 2019, profits soared 48 percent to $ 2.9 billion. Bond trading, in particular, was booming, earnings with fixed-income securities jumped by 86 percent. In the prior-year quarter, this area had suffered from turbulence on the financial markets.

Citibank

The Americans’ enthusiasm for consumption also leaves the coffers at Citibank ring. The U.S. bank benefited from growth in credit card and consumer credit business last year, increasing its profit by eight percent compared to 2018 to $ 19.4 billion, the institute said on Tuesday. Also in Investment Banking, the bank’s second major division, ran
the business around. Overall, earnings increased two percent to $ 74.3 billion.

Citi shares rose in pre-exchange trading on the Wall Street by one percent. The domestic competitor JP Morgan achieved 2019 thanks to good business in Investment Banking and one with consumer loans record profit of $ 36.4 billion.

Strong competition for Europe’s banks

Also for them Deutsche Bank Bond trading remains an important source of income in this area despite its shrinking price. But it is precisely the US banks that are chasing market share from their European rivals. As the Deutsche Bank investors find out when the balance sheet is presented on January 30 in the retail business of JP Morgan Profits climbed five percent to $ 4.2 billion. Customers shrugged their credit cards more often in the Christmas season and also took out more car loans.

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