Mortgage Banking Growth, Cost Improvements Highlight JPMorgan’s Lukewarm Q3 Results

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While JPMorgan’s lukewarm Q3 performance points to a weak quarter for the banking industry as a whole, several positive trends can be discerned from the results. The most important among these is the reduction in total non-interest expenses (adjusted for one-time events) for yet another quarter. JPMorgan’s adjusted costs for Q3 2015 were $14 billion – down from $14.2 billion in Q2 2015 and around $14.5 billion a year ago. Also, the bank’s net interest margin unexpectedly rose for a second consecutive quarter to 2.16%.

Vía Forbes Real Time http://ift.tt/1X40Yb5