Supported by an increase in net interest income
Dubai – Al Arabiya.net
Posted on: July 16, 2023: 06:34 PM GST Last updated: July 16, 2023: 06:53 PM GST
Some major US banks, including JPMorgan Chase and Wells Fargo, achieved an increase in their quarterly profits due to an increase in net interest income, but they warned of a possible slowdown in the US economy despite its resilience, due to the decline in consumer spending and the accumulation of Credit card losses.
On the other hand, Citigroup’s profits decreased due to the decline in trading revenues, which in turn covered the net interest income gains.
Markets are currently awaiting the results of Goldman Sachs and Morgan Stanley this week.
2023-07-16 14:34:00
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