JPMorgan Chase: EPS down 15% in Q4
The New York-based bank's earnings contracted despite a 12% increase in revenues to $39.9 billion, boosted by the acquisition of First Republic, without which they rose by 7%, thanks in particular to higher interest rates.
Non-interest expenses rose by 29% (+24% excluding First Republic) to $24.5 billion, due in particular to higher personnel costs as a result of wage inflation and increased headcount in front office and technology.
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