J P Morgan Chase & Co (JPM) has reported a 10.20 percent rise in profit for the quarter ended Dec. 31, 2015. The company has earned $5,434 million, or $1.32 a share in the quarter, compared with $4,931 million, or $1.19 a share for the same period last year. Revenue during the quarter went up marginally by 0.59 percent to $22,885 million from $22,750 million in the previous year period. Net interest income for the quarter rose 1.47 percent over the prior year period to $11,225 million. Non-interest income for the quarter fell 0.24 percent over the last year period to $11,660 million.
J P Morgan Chase & Co has made provision of $1,251 million for loan losses during the quarter, up 48.93 percent from $840 million in the same period last year.
Assets, liabilities fall
Total assets stood at $2,351,698 million as on Dec. 31, 2015, down 8.61 percent compared with $2,573,126 million on Dec. 31, 2014. On the other hand, total liabilities stood at $2,104,125 million as on Dec. 31, 2015, down 10.12 percent from $2,341,061 million on Dec. 31, 2014.
Loans outpace deposit growth
Net loans stood at $823,744 million as on Dec. 31, 2015, up 10.84 percent compared with $743,151 million on Dec. 31, 2014. Deposits stood at $1,279,715 million as on Dec. 31, 2015, down 6.14 percent compared with $1,363,427 million on Dec. 31, 2014. Investments stood at $673,710 million as on Dec. 31, 2015, down 13.46 percent or $104,742 million from year-ago. Shareholders equity stood at $247,573 million as on Dec. 31, 2015, up 6.68 percent or $15,508 million from year-ago.
Return on assets moved up 12 basis points to 0.90 percent in the quarter from 0.78 percent in the last year period. At the same time, return on average equity was stable at 9 percent in the quarter, when compared with the last year period.
Nonperforming assets moved down 18 percent or $1,237 million to $5,635 million on Dec. 31, 2015 from $6,872 million on Dec. 31, 2014.
Tier-1 leverage ratio stood at 8.50 percent for the quarter, up from 7.60 percent for the previous year quarter. Book value per share was $60.46 for the quarter, up 6.11 percent or $3.48 compared to $56.98 for the same period last year.
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