You can’t make this up:
JP Morgan just said it’s acquisition of First Republic will generate a one-time gain of $2.6 billion.
They also expect over $500 million in profit per year from the acquisition.
On top of this, the FDIC is covering $13 billion in losses and providing $50 billion in financing.
This is all while JP Morgan is technically not allowed to acquire a deposit accepting bank due to regulations.
You’re witnessing the product of a flawed system.
And here's why JPM is crushing everyone and expects to make a record $81BN in net interest income this year (up $7BN from its forecast just 3 months ago): it is funded by $2.4TN in deposits which cost it... 0.01%.
@ChandlerEnfing1@TheHoopCentral Think about this, we all agree that Mitchell is having his best season, yet booker is averaging more PTS, REB, ASI,Efficiency.
He is truly underrated
@immakeepitabuc Think about this, we all agree that Mitchell is having his best season, yet booker is averaging more PTS, REB, ASI,Efficiency.
He is truly underrated
@Roseista01 Think about this, we all agree that Mitchell is having his best season, yet booker is averaging more PTS, REB, ASI,Efficiency.
He is truly underrated
Silicon Valley Bank’s collapse sparked a global sell-off in banking stocks.
These are the opening prices of Maybank, CIMB, and Public Bank today.
On average, these 3 major banks fell by over 3.6%.
The overall Bursa market, meanwhile, saw 663 out of 765 counters trading in red.
1. Petronas has recorded its strongest financial year results, with its full-year profit after tax rising to RM101.6 billion for FY2022.
They also saw revenue reach RM375 billion, which is a 51% increase against last year.