JPMorgan Profit Falls on Europe Crisis

JPMorgan Chase, the first of the biggest banks reporting their year-end results, said Friday that fourth-quarter profit fell 23 percent but was in line with analyst expectations. The largest bank by assets said in a statement that profit fell to $3.73 billion, or 90 cents a share, from $4.83 billion, or $1.12, a year earlier. Investment banking revenue declined by 30 percent as trading slowed because of the financial crisis in Europe. With the relatively challenging year to banks' revenues,...Full Story
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