Write-downs push JPM Q4 income down 21%

18 Jan 2008

JP MORGAN Chase announced on Wednesday that its fourth quarter income for 2007 was down 21% on the previous year as a result of $1.3bn write-downs linked to subprime exposure and CDOs.

The US bank’s net income reached $3bn, or $0.86 earning per share, $0.07 behind market consensus, but ...

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