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JPMorgan’s investment banking fees slide by 47% as dealmaking boom tumbles
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Investment banking fees at JPMorgan slipped by 47% during the third quarter, kicking off what is expected to be a difficult reporting season for Wall Street banks' dealmaking teams.
The US lender posted profit within its corporate and investment bank of $3.5bn during the third quarter, a decline of 37% on the same period last year. Overall net income of $9.7bn for the period ahead of analyst expectations, but down 17% on the previous year.
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