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Higher Profit

Higher ProfitHigher Profit

JPMorgan Chase & Co. said fourth-quarter profit rose 10% as expenses from litigation and employee compensation shrank. The biggest US bank also said a regulatory burden would have a smaller impact on capital requirements than previously estimated. Net income rose to $5.43 billion, or $1.32 a share, from $4.93 billion, or $1.19, a year earlier, according to a statement Thursday from New York-based JPMorgan. Earnings excluding litigation costs, accounting adjustments and a tax benefit were $1.34 a share, beating the $1.27 average estimate of 29 analysts surveyed by Bloomberg. The bank earned $24.4 billion for 2015, a second-straight annual record.

 

Financialtribune.com