JPMorgan Chase's Profits Surge 52% Amid Banking Crisis 💰

JPMorgan Chase , See Profits Skyrocket , Despite Banking Crisis.<br />ABC News reports that JPMorgan Chase posted a 52% <br />leap in first-quarter profits following the failure of <br />Silicon Valley Bank and Signature Bank last month.<br />ABC News reports that JPMorgan Chase posted a 52% <br />leap in first-quarter profits following the failure of <br />Silicon Valley Bank and Signature Bank last month.<br />JPMorgan posted a profit of $12.62 billion, <br />compared to a profit of just $8.28 billion <br />at the same time last year.<br />Following the collapse of the smaller banks, <br />JPMorgan saw deposits noticeably grow as businesses <br />and customers flocked to the financial institution.<br />Higher interest rates also <br />allowed the banking titan to <br />charge customers more for loans.<br />ABC reports that the bank's net interest <br />income was $20.8 billion, a 49% increase<br />from the same time last year.<br />Both Citigroup and Wells Fargo <br />also showed solid results on April 14.<br />Both Citigroup and Wells Fargo <br />also showed solid results on April 14.<br />ABC reports that the news suggests that the nation's <br />biggest, most complex financial institutions may be <br />spared from potential trouble in the banking sector.<br />These were the most watched bank <br />earnings announcements in over <br />a decade, with market participants <br />scouring the results looking for signs <br />of cracks in the U.S. banking sector. , Octavio Marenzi, CEO of consulting firm Opimas LLC, via ABC.<br />These were the most watched bank <br />earnings announcements in over <br />a decade, with market participants <br />scouring the results looking for signs <br />of cracks in the U.S. banking sector. , Octavio Marenzi, CEO of consulting firm Opimas LLC, via ABC.<br />Those analysts looking for <br />signs of the banking crisis were <br />greatly relieved to not find any, Octavio Marenzi, CEO of consulting firm Opimas LLC, via ABC.<br />Also exceeding analysts' expectations, <br />on a per-share basis, the bank earned <br />$4.10 a share, up from last year's $2.63.