JPMorgan Chase's net profit rose 4% in the third quarter of 2020, reaching $ 9.4 billion, equivalent to two dollars and ninety-two cents a share.
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According to Arabiya Net, the quarterly earnings exceeded the average analysts' forecast of two dollars and 23 cents per share.
the bank attributed the profit growth to the return of trading activity as financial markets recovered from the recession caused by the outbreak of the Corona pandemic.
Moreover, JPMorgan Chase & Co. had agreed to pay more than $ 920 million and acknowledged wrongdoing in order to settle federal investigations related to its dealings in Metal Futures and Treasury Bonds.
The bank is set to pay $ 436.4 million in fines and $ 311.7 million in damages and will return more than $ 172 million, according to the Commodity Contracts Trading Committee, in a settlement. It is the largest regulator ever with the derivatives market.
and according to the settlement, JP Morgan dealers deliberately placed orders that they had no intention of executing in order to create a false impression on the movement of selling or buying in a way that pushes prices up Or decrease.
