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The two first Wall Street institutes made shiny shops in the second quarter quarter. At Goldman, the investment banking even went better than expected. © dpa Many US large banks present their balance sheets this week.
The shops of US large bank JP Morgan also ran excellent in the second quarter 2021. As the institute announced on Tuesday, earnings per share increased by 155 percent compared to the same quarter of the previous year - to $ 3.78 per share. In the second quarter of the Corona year 2020, only $ 1.38 profit per share were achieved.
With the current result, the Bank also exceeds the estimates of analysts clearly - both at the profits as well as in the income. Observers had expected an increase in profit per share by 116 percent to $ 3.21. At the revenues, they had calculated $ 29.9 billion, the bank reports the sum of $ 31.4 billion.
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The reason for the bubbling gains: JP Morgan had a lot of loan losses in the second quarter than feared. Thanks to generous state aid packages of consumers, they were able to serve their loans more reliably than feared. The bank had to write off $ 734 million to loans between April and June. However, she had covered three billion dollars. The difference of 2.3 billion dollars could now be booked as a profit.
"The balance sheets in the private and large customer business remain exceptionally strong as the economic prospects further improve," said CEO Jamie Dimon in a message.
As expected, income from trade with securities decreased compared to the second quarter of 2020. In the previous year, high trading volumes after the crash of global exchanges had increased greatly from the broker business.
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Trade in fixed income securities brought revenues of $ 4.1 billion, slightly less than expected. In stock trading, sales were $ 2.7 billion and exceeded the expectations of analysts.
Goldman reports the second best result in investment banking
also the investment bank Goldman Sachs surprises the analysts with good quarter numbers. The profit per share rose to $ 15.02, experts had expected almost over ten dollars. A year ago Goldman made good six dollars profit per share. Income were $ 15.4 billion in the second quarter, analysts had set at $ 12.2 billion.
Surprisingly, the investment banking business was very good. The area reported the second best quarterly result of history - after the outstanding first quarter of 2021, as a booming market for stock exchanges the winnings were quick. Net income in investment banking achieved $ 3.6 billion and exceeded the expectations of analysts by $ 600 million.
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Similar to JP Morgan, the trading business ran a bit weaker than in the previous year. With $ 4.9 billion volumes, the very good result from the first quarter quarter ($ 7.6 billion) was clearly missed. 2.3 billion dollars were attributable to stock trading, 2.6 billion dollars brought trade commercially with fixed income securities such as bonds.
The asset management area reported a recovery fee of $ 5.1 billion, driven by a strong stock market.
On the stock market, the Goldman Sachs share can increase by about half a percent before opening the Wall Street. JP Morgan, however, gives 0.5 percent. Both values have been able to increase vigorously since the beginning of the year.
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