He said «good. Morgan», the first U.S. bank president announces its results in the last quarter of, 2010 The profits rose to 4.8 billion dollars (1.12 dollars per share), from 3.3 billion dollars (74 cents per share) in the same period a year ago. Analysts had expected earnings on average of one dollar per share.
The chief executive of the bank, Jamie Dimon «Although we still face challenges, but there are signs of stability and a return to growth in the global capital markets in the U.S. economy», thanks to the decline in bad loans, the Bank was able to cut loan loss provisions in the unity of credit cards by two billion dollars, or 30 cents a share, after tax.
The bank benefited from the income and activities of the retail banking unit which posted a profit of $ 708 million, compared to a loss of $ 399 million in the same quarter of last year, the bank's revenues rose 6% to $ 26.7 billion
