JP Morgan posts strong second quarter numbers, though Dimon warns of tariff, geopolitical risk

Washington, July 15 (AP) JPMorgan’s second quarter profit fell to US $ 14.2 billion in the second quarter, but the New York bank Wall Street expectations. CEO Jamie Dimon showed a stronger performance on Tuesday, increasing by the bank, especially revenues increased by 15 percent to USD 8.9 billion.

JPMorgan won $ 4.96 per share during the period, arranged for one -time items, defeated 4.48 USD per share of analysts, but last year’s share of 6.12 USD.

Dimon said that the US economy remained flexible in the second quarter and emphasized tax reform and further deregulation potential. However, there are many risks, including tariffs and trade uncertainty, worsening geopolitical conditions and high financial deficits.

Dimon, the conclusion of tax reform and potential deregulation is positive for the economic appearance, but significant risks, including tariffs and trade uncertainty, worsening geopolitical conditions, high financial deficiencies and high asset prices, are continuing, ”he said.

Dimon usually focuses on global and economic issues that go beyond the scope of banking. Washington and global leaders are seen as a banker that can apply for advice, requested or unwanted advice. His comments tend to echo through Washington and corporate America.

JPMorgan’s net interest income, interest on the bank’s credit portfolio and the interest rate given to customer deposits increased by 2 percent to $ 23.3 billion.

The country’s largest banks have benefited from higher interest rates for the last two years, but many of them expect the Federal Reserve to reduce the comparison loan rate twice this year, which will affect the profitability of the banks.

The total managed revenue reached USD 45.7 billion and has exceeded expectations, but last year’s USD $ 51 billion. Wall Street expected a little less than USD $ 44 billion.

JPMorgan shares vary between small gains and losses before the bell on Tuesday, while wider US markets were actually fixed. (AP) PY PY