JPMorgan's Swelling Legal Provisions Did Not Undermine Strong Q3 Performance
- JPMorgan had to spend $1 billion on legal expenses due to forex market rigging investigation but the company still managed to convert its losses over the previous year into profits.
- The company achieved this by playing to its strengths and generating revenue from investment banking, fixed income markets, deposits and credit card sales.
- JPMorgan took pride in its cost cutting measures as it sought to automate to save costs. The company is currently facing competition from tech giant Apple.
- JPMorgan has stood tall over the years and has repaid investors’ faith, does make a worthy investment prospect, if not for the short term then definitely for the long term.