The largest bank in the US by assets demonstrated a very impressive +35% surge in net income for the third quarter of 2023, they attributed the growth to higher interest rates and lower-than-expected loan losses compared to the previous year. The bank reported a substantial +22% jump in revenue, reaching an impressive $40.69 billion.
- However, CEO Jamie Dimon stated that this may be “the most dangerous time the world has seen in decades” – not overly encouraging!
MM is neutral to cautious and bullish on JPM
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