JPMorgan Chase (NYSE:JPM) Mulling to Shut Down Retail Banking Operations in Malaysia – JPM, GS, BBVA, USB

The New York-based JPMorgan Chase & Co (NYSE:JPM), the biggest United States bank by assets, is planning to shut down its retail banking operations in Malaysia, as shown by Zacks Equity Research.

JPMorgan, a leading worldwide financial services company with assets worth US$2.3 trillion, is aiming to limit its retail banking operations globally with a key focus on domestic markets, but is willing to continue with its wholesale banking operations worldwide.

Zacks reported that the Malaysian retail banking is JPMorgan’s only retail presence in Asia.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Goldman Sachs Group, Inc. (NYSE:GS) rose +1.63% to settle at $127.56, Banco Bilbao Vizcaya Argentaria SA (ADR) (NYSE:BBVA) moved up +3.18% to end at $9.42 while U.S. Bancorp (NYSE:USB) jumped +0.82% to finish at $31.94 on Monday.

JPMorgan Chase & Co. (NYSE:JPM) last session’s volume of 24.21 million shares was higher than its average volume of 22.24 million shares. The stock after opening at $43.10 hit high price of $44.00 and then closed at $43.97 by scoring +1.69%.

JPM generated revenue of $57.48 billion in the previous twelve months and earned $17.98 billion. The Company showed a positive 20.37% in the net profit margin as well as in its operating margin which remained at 28.16%. Company’s annual sales growth for the past five years was 0.73%.

The JPM’s past twelve months’ price to sales ratio was 2.91 and price to cash ratio remained 3.13. As far as the returns are concerned, JPM’s return on equity was recorded as 9.85% and return on asset increased 0.84%.

The stock showed weekly downbeat performance of -0.07% which was maintained for the month at 6.67%. Likewise the positive performance for the quarter was recorded as 8.89% and for the year was 38.66% while the YTD performance remained at 36.17%.

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