JPMorgan Chase Q2 earnings aided by WaMu buy - Puget Sound Business Journal (Seattle):

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billion. The bank’s quarterlyh revenue of about $28 billion was bolstered by gainsin JPMorgan’ss retail banking, consumer lending and commerciapl banking divisions. Those divisions were all affectesby JPMorgan’s $1.8 billion purchase of Seattle-baseed WaMu last year. ’s retail bank, made up of the company’ s branches, saw revenue increase 65 percentto $4.5 billionn compared with the same time last year. Similarly, revenue increasedc by $1.1 billion to $3.4 billioh in JPMorgan’s consumer lending division, although the division posted an overall loss during the quarter. In the commercial banking division, JPMorgan JPM) revenue increased 31 percent to $1.
5 driven, in part, by the WaMu To be sure, the bank also set aside more moneh during the quarter to deal with loan losses from theWaMu JPMorgan’s commercial banking division, for example, increasedr its provision for credit lossex to $312 million compared with $47 milliomn the year before. In retail the bank set aside $361 millioj for credit losses comparedwith $62 milliojn in 2008. The WaMu acquisition also boosted JPMorgan’z average deposits by 63 percentf compared withlast year, reaching $348 billion.