Securities services revenue boost at JP Morgan Chase
18 April 2018 New York
Image: Shutterstock
Securities services revenues at JP Morgan Chase rose 16 percent in Q1 2018, according to the bank’s Q1 results.
The bank also reported that assets under management of $2 trillion rose by 10 percent in the period.
Jamie Dimon, chairman and chief executive officer said: “Our multi-year investments in treasury services and securities services are paying off, with revenue up 14 percent and 16 percent in those businesses.”
He added: “We have been outpacing the industry on consumer deposit growth while attracting significant net new money and growing client investment assets 13 percent. Card sales and merchant processing volume both grew double digits, reflecting our investments in new products and innovation focused on our customers' needs.”
“Our asset and wealth management business delivered strong results, with long-term net inflows this quarter across all regions, even as volatility returned to the market.”
The bank also reported that assets under management of $2 trillion rose by 10 percent in the period.
Jamie Dimon, chairman and chief executive officer said: “Our multi-year investments in treasury services and securities services are paying off, with revenue up 14 percent and 16 percent in those businesses.”
He added: “We have been outpacing the industry on consumer deposit growth while attracting significant net new money and growing client investment assets 13 percent. Card sales and merchant processing volume both grew double digits, reflecting our investments in new products and innovation focused on our customers' needs.”
“Our asset and wealth management business delivered strong results, with long-term net inflows this quarter across all regions, even as volatility returned to the market.”
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