JP Morgan Chase Reports Third Quarter 2009 Financial Results

JP Morgan Chase has reported financial results for the third quarter of 2009 - reporting net income of $3.6 billion, compared with net income of $527 million in the third quarter of 2008.

Chase Card Services reported a net loss of $700 million, a decline of $992 million from the third quarter of 2008. End-of-period managed loans were $165.2 billion, a decrease of $21.3 billion, or 11%, from the prior year and $6.3 billion, or 4%, from the prior quarter. Card charge volume was $82.6 billion, a decrease of $11.3 billion, or 12%, from the prior year. Merchant processing volume at Chase Paymentech was $103.5 billion, on 4.5 billion total transactions processed.