JP Morgan improved its first-quarter profit

JP Morgan launched the period of first quarter 2010 results of major banks on Wall Street by posting its own from this Wednesday. Its net profit for this period is 3.3 billion dollars against 2.1 billion in the first quarter of 2009. Its net banking income, which may be compared to sales for firms outside the banking sector reached 28.2 billion dollars against 26.9 billion a year earlier.

Jamie Dimon, CEO of JP Morgan, said that these results reflect another strong quarter for investment banking arm as well as asset management and retail banking.However, the bank recorded heavy losses in the sector of consumer credit.

Outlook 2010

Jamie Dimon wants confident for the rest of the year, explaining that the economy still faces great difficulties, but there were significant improvements that will lead to a strong recovery. It also plans to create 9,000 new jobs there in the United States.

ALSO READ:

"The investment bank continues to generate profits"

"JP Morgan's business is failing stock markets

"JP Morgan dominated the mergers and acquisitions in France

• The Paris Bourse is limping along
• Resumption of hiring on Wall Street
• Wall Street supported by the results of Alcoa
• iPad: estimates revised upwards
• Hospitals: deficit reduction