Financial new network ( microblogging )] (reporter Zhao Jingting) April 13, Group, JP Morgan Chase ( NY Morgan Chase Group Chairman and CEO Jamie Dimon said : “The company’s 2012 first quarter was strong revenue of $ 27.4 billion, an increase of 24% compared with the previous quarter, an increase of 6 percent compared with last year, although several major factors have affected our results, but overall, robust performance of the company’s first quarter. the first quarter of 2012, the company’s tangible common equity rate of return of 16%, 11% the previous quarter last year was 18%. “
Dimon also pointed out that the quarter reflects positive credit trends for JPMorgan Chase’s consumer real estate and credit card product portfolio. Expected losses of the above combination in the first quarter of decline, the company will be reduced by $ 1.8 billion related loan loss provisions. However, in the business of mortgage lending bank, JP Morgan expects the costs associated with mortgage loans and high loss problem will last longer. The company’s wholesale product portfolio remained stable credit trends and the continued strength of will. Damon is also the company’s balance sheet, JP Morgan Chase solid balance sheet, the end of the first quarter based on Basel I, an ordinary share capital adequacy ratio reached 10.4%. Expected based on Basel III, an adequacy ratio of ordinary shares at the end of the first quarter will be approximately 8.4%. Dimon also said the board decided to be raised to $ 1.20 per share annual dividend payout ratio and to authorize the start of a new $ 15 billion stock repurchase program. The company will continue whether on capital to assess the optimal and most efficient use. JP Morgan Chase will be based within the company’s organic growth requirements, investment opportunities, capital retention requirements and stock situation, take a reasonable share repurchase program. Dimon also pointed out that in the first quarter of 2012, the company provided to customers in commercial and consumer loans and financing totaling over 445 billion U.S. dollars. The company provided more than $ 4 billion to the United States small business loans, an increase of 35%. The first quarter payment of the mortgage loans of more than 200,000 document. To help troubled owners since 2009, more than 130 million cases of the terms of amendments to mortgage loans, of which nearly 500,000 have been completed. ■Morgan Chase in 2012 first quarter net profit of $ 5.4 billion
Posted On Monday, 16 Apr 2012 By admin. Under Market Watch Tags: based on the Basel, Damon, financial new network, JP Morgan Chase, JP Morgan Chase in the first quarter of 2012 net profit of $ 5.4 billion, mortgage loans, stock repurchase program
