Day in chiaroscuro for two of the main American banks: both JP Morgan, which disappoints expectations, and Wells Fargo, which instead records a profit in line with analysts' forecasts, publish their quarterly reports. Specifically, JP Morgan closed the fourth quarter of 2014 with a net profit of 4,93 billion dollars, down 6,6% compared to the same period of 2013. Earnings per share amounted to 1,19 dollars and it is therefore lower than the $1,31 expected by analysts. Revenues amounted to 22,51 billion, down 2,8%. In the quarter, the bank set aside 840 million for credit losses and recorded legal costs of 990 million. For the full year 2014, net income rose 21% to $21,8 billion ($5,29 earnings per share), a record high for the institution, on revenues down 2%. to 94,2 billion.
As for capital solidity, at the end of 2014 common equity tier 1 was 10,2%, tier 1 was 11,6% and the total capital ratio was 13,1%. “2014 was a record year for the company from the point of view of profit and earnings per share – commented the CEO Jamie Dimon – We have achieved the goals we set ourselves, including the simplification of the business, the controls, cost discipline and capital ratios, while maintaining our excellent level of customer satisfaction. All our divisions and the entire company – he concluded – start 2015 very well positioned to achieve long-term growth and success ”.
Wells Fargo, on the other hand, reported profits up and in line with analysts' forecasts, with revenues on the rise. In the three months to December, net income was $5,71 billion, $1,02 per share, up 2% from $5,61 billion, $4 per share, in the same period last year . Revenue rose 20,66% from $21,44 billion to $1,02 billion. Analysts expected a profit of 21,23 dollars per share with a turnover of XNUMX billion.
