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JPMorgan posted results on Friday (Oct. 12) that beat the Street on headline numbers – top and bottom – based on traction in consumer spending, and also showed growth in its mobile and digital initiatives.
The bank is among a trio, including Citigroup and Wells Fargo, that typically kick off earnings season.
According to reports, the company said that average core loans were up 6 percent year on year, a tally that excludes corporate and investment banking activity. Loans during the period came to just under $425 billion. Drilling down a bit, card loans were $147 billion, up 5 percent year on year to $147.9 billion, a 2 percent gain. In reference to the consumer, too, consumer and community
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