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> I completely disagree with this prediction. People have been betting against large banks for awhile with record investment in challenger banks, but both Citi
by oarsinsync 7y ago
> I completely disagree with this prediction. People have been betting against large banks for awhile with record investment in challenger banks, but both Citi and JP Morgan recorded their most profitable quarter in their entire history this morning.
Are you sure those profits are in their retail banking sectors, or in their investment and corporate banking?
- tempsy 7y agoliterally everything. banks are making money hand over fist right now.
- jdmichal 7y agoLooking at JPMorgan Chase's 4Q19 net incomes (numbers in millions): All = $8,5xx CCB = $4,231 (50%) CIB = $2,927 (34%) CB = $ 938 (11%) AWM = $ 785 ( 9%) Those are, in order: * Consumer and Community Banking, aka Chase retail banking. * Corporate and Investment Bank, aka JP Morgan investment banking. * Commercial Banking. * Asset and Wealth Management. (NOTE: The extra 4% above is accounted for in corporate overhead.)