KONTAN.CO.ID - NEW YORK. JPMorgan Chase & Co reported a better-than-expected quarterly profit on Tuesday as higher interest income and buoyant consumer lending offset lower activity at its trading desks. Even as the world's biggest bank recorded record earnings, there were warning signs that the playing field is beginning to tilt against the financial industry. JPMorgan's net interest margin declined to 2.49% from 2.57% a year ago as deposit rates rose and the rate the bank paid on other borrowings rose. Citigroup similarly reported a decline in net interest margin on Monday, which sent bank stocks lower.
JPMorgan profit beats estimates on lending strength; net interest margin dips
KONTAN.CO.ID - NEW YORK. JPMorgan Chase & Co reported a better-than-expected quarterly profit on Tuesday as higher interest income and buoyant consumer lending offset lower activity at its trading desks. Even as the world's biggest bank recorded record earnings, there were warning signs that the playing field is beginning to tilt against the financial industry. JPMorgan's net interest margin declined to 2.49% from 2.57% a year ago as deposit rates rose and the rate the bank paid on other borrowings rose. Citigroup similarly reported a decline in net interest margin on Monday, which sent bank stocks lower.