Boston, MA 04/14/2014 (wallstreetpr) – JPMorgan Chase & Co. (NYSE:JPM) had a rough year speaking in terms of financial status and quarterly revenues. Though, it should be mentioned that the revenues of the company during the 1Q2014 don’t look so bad. So it remains to be seen whether JP Morgan will be able to rise from its ashes like a phoenix or will have a great fall. It’s a number game, and JP Morgan is doing its entire can to maintain them.
Time to increase rates
JPMorgan Chase & Co. (NYSE:JPM) is having talks about increasing the rates of its financial services. The main reason behind this would be that they require greater returns for the company since the company has been running into losses. The JPMorgan is doing all it can get back with a rebound, but that has not been possible. There has been a slowdown in bond trading and mortgages, which was one reason the profits of the company were hit hard by the blow. JPMorgan is saying that the deposits have risen this year, and so has the number of credit cards.
So who is to blame for the failure? Jeff Morris of Standard Life Investments says that the current market environment and the current economic situation is to be blamed. There is nothing JPMorgan can do about that.
JPMorgan has also been paying off in settlements against lawsuits. It had announced last year that it had spent around $13 billion in a settlement with the justice department in order to settle allegations with respect to the sale of mortgage securities that were risky at the time of the housing bubble. In the first quarter of this year, JPMorgan Chase & Co. (NYSE:JPM) has already agreed to pay $2.6 billion in settlement of lawsuits with the financier Bernard Madoff.
Lets just say that we’re glad to hear that the lawsuits have now been settled or will be settled and then there will be one less problem to worry about.
