JPMorgan Chase Shows Healthy Profits

JPMorgan Chase, one of the largest banks in the United States, revealed that the financial institution earned more than two billion dollars in the first quarter of 2009. The company pointed to high quantity trading, mass deposits and the low loan rates as reasons why JPMorgan Chase was able to post much better than anticipated earnings from January through March.
Although the bank took more than $25 billion in United States federal government bailout money, JPMorgan Chase said that it is contemplating paying back the bailout money. The bank also said that they do not believe that they need further bailout …read more