BUSINESS
20:23, January 14, 2022
File photo: CGTN
JPMorgan Chase reported a dip in fourth-quarter profits Friday as higher costs for employee compensation offset a benefit from an improving economy that has reduced reserves in case of defaults.
Earnings came in at $10.4 billion, down 14 percent from the year-ago period. The results included $1.8 billion in reserve releases from funds that were set aside earlier in the pandemic in case of bad loans.
We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies
