JPMorgan Chase & Co. set aside $10.47 billion to cover potential losses on loans to borrowers hurt by the coronavirus pandemic, cutting its second-quarter profit in half.
The nation’s biggest bank by assets is stockpiling reserves, worried about how the pandemic will affect the financial health of its consumer and corporate clients. JPMorgan put aside more than $8 billion for potential loan losses in the first quarter, which ended just weeks into the crisis.
Source: Loan Digest (loandigest.net)
Did they do something responsible? I’m looking up for flying pigs
Good.
Thank you jpmorgan
12-16 months from now. Banking crisis looms.
It didn’t work for me. They took my house, my home of 32 years.
They are still making a profit despite covering the losses? How much exactly is JPMorgan's profit margin in normal times
Oh sob sob sob only half the profit.
This will be a rough earning season. The S&P cannot stay decoupled from the reality of our situation forever.
This is so sad
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