Why JPMorgan Chase Could See Record Earnings in 2021
Even though earnings at the banking giant dropped compared with 2019, I still thought JPMorgan Chase (NYSE: JPM) had an excellent year in 2020 given the cards it was dealt. With the economy running at an extremely slow pace because of the coronavirus pandemic, the bank generated more than $29 billion in profits while setting aside billions to cover potential loan losses that may or may not materialize.
While the bank showed its resilience in 2020, there could be even better days ahead in 2021 if the country can get the public health crisis under control and the economy can bounce back.
Image source: JPMorgan Chase.
Source Fool.com
