Financial Report Financial reports from the largest companies of the world

JP Morgan Chase with decreased profit

The US bank JP Morgan Chase announced a lower profit for the fourth quarter of 2011 on an annual basis due to weaker trading in its investment division, said the Air Force. The bank's net profit was 3.7 billion dollars, which represents a decrease of 23% compared to 4.8 million dollars earned in the fourth quarter of 2010. For all of 2011, JP Morgan profit increased by 9% to 18.98 billion dollars at 17.37 billion dollars in 2010. Announced earnings results were within analysts' expectations, but revenue for the fourth quarter is not justified forecasts a drop of 18% yoy to 21.47 billion dollars. According to Mike Holland, chairman of investment company Holland & Co in New York, for profit figures indicate "how well can be controlled JP Morgan in one of the most difficult periods". The CEO Jamie Dimon credit institution said that although she has represented adequately in the year given the economic environment, "returns for the fourth quarter is moderately disappointing". The shares of JP Morgan lowered its value by 2.9% in trading before the opening of the New York Stock Exchange.