J.P. Morgan reports rise in markets and securities services revenue for Q3
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J.P. Morgan reports rise in markets and securities services revenue for Q3 14 October 2020New York Reporter: Maddie Saghir
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J.P. Morgan has revealed its markets and securities services revenue for Q3 this year totalled $7.8 billion, a 29 percent increase from its Q3 2019 figure of $6 million.
Markets revenue was up 30 percent compared to last year’s Q3 figure while securities services revenue was $1 billion, flat to the prior year, as deposit margin compression was offset by balance growth, according to J.P. Morgan.
Fixed income markets revenue in Q3 stood at $4.6 billion, up 29 percent, which the bank said was driven by strong performance across products, particularly in commodities, credit and securitised products.
Meanwhile, equity markets revenue was $2 billion, up 32 percent. J.P. Morgan explained this was driven by strong performance across products.
Despite significant uncertainty in the environment, Jamie Dimon, chair and CEO of J.P. Morgan, said: “The firm is unwavering in its commitment to driving an inclusive economic recovery, advance sustainable solutions to address climate change and improve the lives of our customers, especially those in underserved communities.”
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