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JPMorgan Chase Q4 2011 Earnings Report & My Review

Friday, January 13, 2012 - 9:33 AMChase Manhattan Bank - Details
From the Washington Post
In a sign that banks will continue to be punished for past mistakes, JPMorgan Chase set aside a large sum to fight lawsuits related to poorly-written mortgages during the real estate boom.

Here's the link to Chase's Q4 2011 earnings report. I found a few interesting things to note in the review of Chase's Consumer & Business Banking division:

Chase blamed the debit card regulation for reducing their revenue and forcing them to increase fees:
Noninterest revenue was $1.6 billion, a decrease of 7%, driven by lower debit card revenue reflecting the impact of the Durbin Amendment, partially offset by increased deposit-related fees.

Apparently, Chase didn't see a hit from the Bank Transfer Day movement:
Checking accounts totaled 26.6 million, down 2% compared with the prior year, driven by the attrition of converted WaMu Free Checking accounts; and were flat compared with the prior quarter.

The following metrics indicate more downward pressure on deposit rates:
Average total deposits were $367.9 billion, up 7% from the prior year and 2% from the prior quarter.

Deposit margin was 2.76%, compared with 2.96% in the prior year and 2.82% in the prior quarter.

Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,634
1. Friday, January 13, 2012 - 2:47 PM
Chase did not know what hit them...

Well, I am not going to reveal it to them, either:D
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427
2. Friday, January 13, 2012 - 5:07 PM
well, their average total deposits were up both from prior year and prior quarter, so maybe they truly dodged the bullet.  
ninissniniss60 posts since
Sep 22, 2010
Rep Points: 154