Pretax profits at JP Morgan Ireland rise by 78% to $26.7m
Pretax profits at the IFSC-based arm of banking giant JP Morgan increased last year by 78 per cent to $26.7 million (€21.8 million), new figures show.
Accounts just filed by JP Morgan Bank (Ireland) to the Companies Office show that the assets it had under management increased by 25 per cent from $192.2 billion to $240.9 billion.
Overall, the fees and commission generated by the firm increased by 25 per cent from $80.7 million to $101.3 million last year.
The figures show that fees based on the firm’s managed assets increased from $27.8 million to $38.4 million while the accounts state that the increase in asset based fees in 2011 “was due to rising markets”.