JPMorgan Profitability Slips in ‘Challenging’ Banking Environment
JPMorgan Chase reported a nine percent return on equity during the first quarter - a number that's typically in the mid-teens.
JPMorgan Chase (JPM) - Get Report reported a nine percent return on equity during the first quarter - a number that's typically in the mid-teens. This as the banking sector continues to face challenges, according to Craig Erlam, a senior market analyst at Oanda, based in London. He said this sets the stage for more lackluster results from the rest of the major banks, which report this week. 'This is one of the challenges that's going to face the major banks - we are seeing margins being squeezed,' he said. TheStreet's Scott Gamm reports from New York.
