A profit of $48 billion dollars for JPMorgan Chase & Co. stands out, as Bloomberg News sums up the last reported 12 months for the leading investment banks. Its competitors, too, have had a good year.
Summing up the profits over the last four quarters for the dozen largest firms, Bloomberg News arrives at more than $170 billion in total profits. The list sees JP Morgan’s $47.8 billion in profits followed by Goldman Sachs $20.2 billion, Morgan Stanley’s $13.7 billion, then UBS and Barclays at 7.6 and 7.4 billion, respectively.
Helped traders come back
“Goldman Sachs Group Inc. and Morgan Stanley also broke their profit records, while European counterparts UBS Group AG and Barclays Plc posted their highest earnings in a decade as the likes of Deutsche Bank AG and Societe Generale SA credited the improving world economy for boosting their business,” writes Bloomberg.
“Elevated markets activity benefited traders who were once out of favor at Deutsche Bank and Barclays, while JPMorgan’s investment bank posted its best quarter in history thanks to dealmaking and advisory fees.”