The US investment bank closed 2013 with profits down 16% to 17,9 billion – In the fourth quarter JP Morgan recorded a 7% drop in profits.
The 2013 of JP Morgan Chase ends, which closes with profits falling beyond expectations, to 17,9 billion, down by 16% on an annual basis. The legal expenses for the numerous lawsuits related to the real estate crisis weigh on the investment bank accounts.
In the fourth quarter alone, JP Morgan reported profits of 7% to 5,3 billion ($1,3 per share), another result below expectations. In the last three months for the year, the US institute reported revenues of 23,16 billion, down 2%.
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