JPMorgan, the largest bank in the U.S. by assets, set aside just $611 million for potential future loan losses, compared with $10.47 billion in the previous quarter
JPMorgan Chase & Co. said Tuesday that its third-quarter profit rose 4%, a surprising result for the nation’s biggest bank during a recession that has hammered much of its business for the year.
The bank set aside just $611 million for potential future loan losses, far less than expected and the $10.47 billion it booked in the second quarter. Profit doubled from the second quarter.
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