Despite the positive performance the US investment bank reported losses related to markdowns of derivatives receivables from counterparties linked to Russia in Q1 2022.
J.P. Morgan has reported a net revenue of US$30.7 billion for the first quarter of 2022, a decrease of five percent year-on-year (YoY). Net income was US$8.3 billion, down 42%, predominantly driven by a net credit reserve build of US$902m compared to a net credit reserve release of US$5.2 billion in the prior year. The bank’s Q1 2022 results included US$524m of losses within credit adjustments & other in the corporate & investment bank (CIB) driven by funding spread widening as w
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