💼💹 Bank JPMorgan $JPMus+0.4%along with other US banks today announced results for 4Q 2023. For the quarter, it reported net income of $9.3 billion ($3.04 per share). For the full year, net income is $49.6 billion ($16.23 per share). That's a decent chunk of change, which is part of why it's the largest bank in the US. Buoyed by better lending margins and the acquisition of failed regional bank First Republic, this result was 31% better than 2022 earnings.
I would say that it is the most stable bank in the US market, so we don't have to worry about any collapse, as happened to the big banking houses in 2008 and last year.
The company expects very solid results in the coming year, so investing in this bank may not be a bad option. Despite this, it is important to keep an eye on the Fed's decision, which will greatly affect the future market situation.
Recently, this bank's stock reached an all-time high. How do you feel about the banking sector? Do you invest only in American ones or do you have a representative in Canada, Europe or even in the Czech Republic? 👀💪