Bank reports 12.5% Q1 profit fall
16-04-2009
Another of America's biggest banks, JP Morgan Chase, has reported better than expected earnings.
The bank announced a 12.5% drop in first quarter net income of 2.1-billion dollars, compared with 2.4-billion dollars the same time a year ago.
However, its revenue increased 45% to 25-billion dollars, mostly due to its takeover of Washington Mutual.
