The next is an excerpt from in the present day’s World Publication.
With apologies to Rihanna, you must acknowledge the star high quality of JPMorgan Chase chairman and CEO Jamie Dimon after reviewing the investor day particulars yesterday.
The corporate reported $84 million in gross revenue ON INTEREST ALONE. (Emphasis undoubtedly mine.) In addition they reported including 600,000 new checking accounts by means of April this yr.
JPMorgan rolls on regardless of market volatility, with no trace or whisper of points or adverse traits (outdoors of the Frank debacle).
After including First Republic to the highest and backside traces, the enormous retains getting greater.
Dimon just lately stated that he’s feeling nice, loves his job, and needs to maintain working, like most profitable billionaires.
From Fintech Nexus
Additionally making information
- USA: Enterprise agency QED raises $925 million for fintech investing QED Traders, the monetary technology-focused enterprise agency that was an early backer of Credit score Karma, has raised $925 million for 2 new funds.
- USA: Mountain of FTX Proof: Emails, chat logs, code and a pocket book Prosecutors investigating Sam Bankman-Fried, the cryptocurrency trade’s founder, have gathered greater than six million pages of paperwork and different data.
- LatAm: Visa working with Brazil’s farmers to domesticate makes use of for CBDC As central banks search tangible makes use of for central financial institution digital currencies, Visa and a gaggle of companions have developed a mechanism that makes use of a CBDC to attach cash-strapped small companies with a wider vary of funding choices.
- USA: Fifth Third targets funds growth with Rize Cash acquisition Fifth Third Bancorp is increasing enterprise administration companies into the know-how sector with the current acquisition of the embedded funds platform Rize Cash.
- World: First Residents sues HSBC over poaching of SVB workers First Residents has filed a lawsuit towards HSBC for poaching 40 senior workers from the collapsed Silicon Valley Financial institution.
- World: Why SWIFT stays indispensable for cross-border funds SWIFT works with 11,000 member establishments and facilitates $150 trillion in transactions per yr. It’s unlikely to be dethroned anytime quickly.
- USA: Daylight, the LGBTQ+ neobank, calls it quits Daylight had raised a complete of $20 million in enterprise funding and was just lately the goal of a lawsuit by three former staff.
