The goal of this project will be to settle dollar trades in real-time which is significantly faster than the current settlement periods of a few days. Banking giant JPMorgan has partnered with six Indian banks to settle interbank dollar transactions over a blockchain platform in the country’s newest international financial hub of GIFT City. JPMorgan … Read more
Banking powerhouse JPMorgan recently increased its 2023 revenue target by $3 billion on improved operational prospects. JPMorgan Chase (NYSE: JPM) has increased its 2023 key revenue target to $84 billion following its acquisition of First Republic earlier this month. The New York-based banking giant revealed the projected performance at an investor presentation Monday which should … Read more
Despite the troubled tech space, German InsurTech firm Wefox recently raised $110 million in debt financing and fresh equity funding. On Wednesday, May 17, insurance technology startup Wefox announced $110 million in funding from investors, including JPMorgan (NYSE: JPM) and Barclays (LSE: BARC). According to Wefox, the American and British banking giants contributed half of the total funding via a … Read more
American multinational banking giant JPMorgan Chase has emerged as the lucky buyer of the embattled regional banking firm, First Republic Bank. As reported by CNBC, JPMorgan Chase & Co (NYSE: JPM) acquired all of the deposits of First Republic Bank (NYSE: FRC) and a substantial number of its shares. The acquisition was made possible after regulators … Read more
JPMorgan topped Q1 2023 revenue expectations by more than $3 billion on the back of higher Fed-facilitated interest rates. JPMorgan Chase (NYSE: JPM) recently posted a Q1 2023 record revenue haul that beat analysts’ expectations. The banking giant’s record first-quarter revenue largely benefitted from net income on higher interest rates which surged 50% year-over-year (YoY). JPMorgan … Read more