Banks: J.P. Morgan & Co., the nation’s...
From Times Staff and Wire Reports
Banks: J.P. Morgan & Co., the nation’s fourth-largest bank group, reported second-quarter earnings of $231 million, a 12% increase from a year earlier. The New York-based company said the results “reflected good performance across all of our business activities despite a weak economic climate.” Wachovia Corp. reported second-quarter net income of $79.5 million, a 5.7% increase from a year ago. The Winston-Salem, N.C.-based company said the increase in earnings was moderated by slower business growth and higher credit losses because of a weak economy.
Tables, D10
