JPMorgan sees improved Q1 results on lower provision

The New York-based bank said first-quarter results included a pretax benefit from reduced credit card loan loss reserves of $2.0 billion, a $1.1 billion pretax loss from mortgage servicing rights asset adjustment for increased costs and pretax expense for estimated costs of foreclosure-related matte...

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Bibliographic Details
Published inSNL Bank and Thrift Weekly
Main Author Nida Syed
Format Trade Publication Article
LanguageEnglish
Published Charlottesville SNL Financial LC 18.04.2011
EditionNortheastern ed.
Subjects
Asset management
Banking
Banking industry
Banks
Financial performance
Financial services
Foreclosure
Mortgage servicing
Net income
Net losses
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Summary:The New York-based bank said first-quarter results included a pretax benefit from reduced credit card loan loss reserves of $2.0 billion, a $1.1 billion pretax loss from mortgage servicing rights asset adjustment for increased costs and pretax expense for estimated costs of foreclosure-related matters of $650 million.
ISSN:1522-1296