According to CCTV News, JPMorgan Chase released its financial report on the 12th, showing a net profit of $13.419 billion in the first quarter of 2024, with a month on month and year-on-year increase of 44% and 6%, respectively. Excluding the impact of the acquisition of First Republic Bank in the second quarter of last year, the net profit increased by 1% year-on-year.
The financial report shows that JPMorgan Chase achieved a revenue of $41.934 billion in the first quarter, higher than market expectations, with a month on month and year-on-year increase of 9%. After deducting the impact of the acquisition of First Republic Bank, the operating income increased by 4% year-on-year.
According to the financial report, JPMorgan Chase's credit loss reserve for the first quarter was $1.884 billion, a decrease of 32% month on month and 17% year-on-year, respectively; The net interest income for the first quarter was 23.2 billion US dollars, and it is expected to be approximately 90 billion US dollars in 2024, consistent with previous forecasts.