Posted on

With Vaccines and Stimulus on the Way, Banks Brighten Their Outlook


The results showed that JPMorgan’s retail customers have been buying houses and cars. The number of mortgages and auto loans rose 20 percent compared with a year earlier. The bank’s profit from stock trading jumped 32 percent, while earnings from trading in bonds, currencies, commodities and other products rose 15 percent from the same period a year earlier.Citigroup said on Friday that it had released nearly $1.5 billion from its reserves, but it was not enough to raise its quarterly earnings above what it earned in the same period in 2019. The bank reported a profit of $4.6 billion on revenue of $16.5 billion. …

Read More