Mixed Q4 results for JP Morgan Chase 15 January 2015New York Reporter: Stephanie Palmer
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JP Morgan Chase has released its Q4 financial results, reporting a rise in custody and securities services business, among mixed overall figures.
Assets under custody reached $20.5 trillion in Q4 2014, keeping level with the same time period in 2013, but down by 3 percent compared to Q3 2014.
Securities services revenue was up by 6 percent compared to Q4 2013, reaching $1.1 billion. This increase has been attributed to higher fees and commissions, as well as higher net interest income on increased deposits.
Assets under management reach a record total of $1.7 trillion, an increase of $146 billion, or 9 percent, compared to Q4 2013. This was attributed to net inflows for long-term products, and the effects of higher market levels.
Jamie Dimon, chairman and CEO of JP Morgan Chase, commented: "We delivered on our commitments – including business simplification, controls, expense discipline and meeting our capital targets for the year – while maintaining excellent customer satisfaction rankings.”
“I am proud of this great company, its exceptional management team and employees, and everything we are achieving for our clients, shareholders and communities. Each of our businesses and the company are very well positioned going into 2015 for long-term growth and success."
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