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Economy

The benefits of JPMorgan Chase in 2018: 32,474 million dollars

New York / The largest banking group in the United States, JPMorgan Chase, announced it obtained a net profit of 32,474 million dollars in 2018, 33% more than the previous year and a record, although in the last quarter it was affected by the volatility of the stock market.

The first financial firm by volume of assets, headquartered in New York, recorded a net profit per share of 9 dollars compared to the 6.31 obtained in the year of 2017, when its profit was 24,441 million.

On the other hand, the group’s turnover rose 8% and reached 109,029 million dollars, while it was 100,705 million in the same period of the previous year.

As for the results of the fourth quarter, which Wall Street most paid attention to, the profits of JPMorgan Chase increased by 67% to 7.06 billion.

Its result per share in the last three months of the year increased by 85% to 1.98 dollars, and its income reached 26,109 million, representing 7% more.

Analysts have seen JPMorgan exceed their expectations for 15 quarters in a row, but weren’t convinced this time either by profits or by turnover.

The CEO and president of the bank, Jamie Dimon, considered in a press release that 2018 has been a strong year “even without the impact of the tax reform” but acknowledged that the last one has been a “tricky quarter”, impacted by the “volatility and low market levels”.

In this regard, the fixed income business, which belongs to the area of corporate banking and investment, saw revenues fall 18% year-on-year, reaching 1,856 million dollars, below analysts’ expectations.

Dimon concluded the presentation with a call to the US government, communities and the business world to “work together to solve the problems and strengthen the economy for the benefit of all.”

“As we enter 2019, we urge the leaders of our country to achieve a collaborative and constructive tone, which would reinforce the already strong confidence of consumers and businesses,” the executive wrote.

The results were released early in the morning and one hour before the opening of the session on the New York Stock Exchange, the group’s shares were down 2.81% in the electronic operations of the market. In the last year, its shares have been devalued by 10%. (January 16, 2018, EFE/Practica Español)

News related in video (December 2016):


Comprehension

Lee la noticia y responde a las preguntas. (Read the news and answer the questions.)

Congratulations - you have completed Lee la noticia y responde a las preguntas. (Read the news and answer the questions.). You scored %%SCORE%% out of %%TOTAL%%. Your performance has been rated as %%RATING%%
Your answers are highlighted below.
Question 1
El texto habla de...  
A
las ganancias de JPMorgan Chase.
B
unas medidas anunciadas por JPMorgan Chase.
C
las expectativas de JPMorgan Chase para este año.
Question 2
Según el texto, JPMorgan Chase obtuvo...      
A
más beneficios en 2017 que en 2018.
B
los mismos beneficios que el año pasado.
C
más beneficios en 2018 que en 2017.
Question 3
Según el texto, en 2018 JPMorgan Chase ganó...  
A
más de treinta millones de dólares netos.
B
casi veinticinco millones de dólares netos.
C
menos de treinta de millones de dólares netos.
Question 4
En el texto se dice que...  
A
ese grupo bancario obtuvo menos ingresos en el último trimestre.
B
es probable que JPMorgan Chase tenga pérdidas en este trimestre.
C
se espera que JPMorgan Chase obtenga más ingresos en este trimestre.
Question 5
Dimon...  
A
no cree que haga falta fortalecer la economía.
B
quiere que se trabaje de forma conjunta para fortalecer la economía.
C
anunció que se reunirá con el ministro de Economía de EE.UU.
Question 6
En el vídeo se dice que Trump...  
A
anunció la creación de un foro asesor.
B
no tiene claro si va a crear un foro asesor.
C
desmiente que vaya a crear un foro asesor.
Question 7
Según el vídeo, en ese foro asesor...  
A
estará Jamie Dimon de JPMorgan Chase.
B
no habrá nadie del sector bancario.
C
solo habrá directivos de JPMorgan Chase.
Question 8
Según el vídeo, Trump...  
A
no tiene interés en conocer el punto de vista del sector privado.
B
descarta que sea importante conocer el punto de vista del sector privado.
C
considera importante el punto de vista del sector privado.
Once you are finished, click the button below. Any items you have not completed will be marked incorrect. Get Results
There are 8 questions to complete.

Vocabulary

Congratulations - you have completed . You scored %%SCORE%% out of %%TOTAL%%. Your performance has been rated as %%RATING%%
Your answers are highlighted below.
Question 1
Un 'trimestre' es...  
A
un periodo de tres años.
B
un periodo de tres meses.
C
un periodo de 3 semanas.
Question 2
El 'mercardo bursátil' es...    
A
una caja de ahorros.
B
un ministerio de economía.
C
la Bolsa.
Question 3
Lo contrario de 'beneficio' es...  
A
'ganancia'.
B
'pérdida'.
C
'ingreso'.
Question 4
Un sinónimo de 'incrementar' es...  
A
'invertir'.
B
'aumentar'.
C
'reducir'.
Question 5
Si algo es 'complicado' es...  
A
fácil.
B
simple.
C
difícil.
Question 6
'Fortalecer' es...  
A
hacer más fuerte algo.
B
debilitar.
C
perder fuerza.
Question 7
Algo está 'devaluado' cuando...  
A
tiene más valor.
B
pierde valor.
C
tiene el mismo valor.
Question 8
"67%" se lee...  
A
"sesenta y siete por cien".
B
"sesenta y siete por mil".
C
"sesenta y siete por ciento".
Question 9
"Siete por ciento" es igual que...      
A
7ª.
B
7º.
C
7%.
Once you are finished, click the button below. Any items you have not completed will be marked incorrect. Get Results
There are 9 questions to complete.

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