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Despite recession, JPMorgan Chase just posted record revenue — here’s how they did it

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Jamie Dimon, chief executive officer of JPMorgan Chase & Co.

Marlene Awaad | Bloomberg | Getty Images

JPMorgan Chase managed to throw off the most quarterly revenue in its history at the same time that the U.S. economy is in the throes of a sharp recession.

The bank posted $33.8 billion in second-quarter revenue, helping it earn a better-than-expected $4.69 billion in profit for the period, because of shrewd moves made under CEO Jamie Dimon to build up its investment bank in the years after the financial crisis.

JPMorgan is known to most as one of the biggest U.S. retail banks, with a coast-to-coast network of branches that has fueled much of the lender’s dominance over the past decade….



Source cnbc.com

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