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Shares of several major banks fell on Friday – even after reporting solid quarterly earnings – as reports warned investors and some firms about rising expenses and “inflationary pressures” that could affect future profits. can.

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Shares of JPMorgan Chase, the largest US bank by assets, fell more than 5% on Friday despite beating profit and revenue estimates.

It was the bank’s smallest earnings call in the past seven quarters, and JPMorgan’s CFO lowered guidance on company-wide returns, citing “headwinds” including “inflationary pressure.”

Shares of Citigroup similarly fell more than 2% after reporting solid revenue and profit numbers, as investors were particularly worried about a sharp drop in the bank’s profits.

The company’s net income fell 26% in the fourth quarter, with Citigroup attributing the sharp decline to rising expenses.

Wells Fargo was the only major bank to report earnings on Friday and buck the trend, whose shares jumped more than 3% after a big jump in better-than-expected revenue and profits.

Wells Fargo, the fourth-largest US bank by assets, said lending activity is picking up again, adding that the latest quarterly results were boosted by a reserve release of $875 million, which is designed to shield against loan losses. was set aside for.

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