JPMorgan Reports on Lending, Increases Loan Loss Reserves

The bank reported solid growth in their lending business but remains cautious of downturn; the bank raised their loan loss reserves by $300 million in Q4 2018, split between consumer and commercial loans; total loans rose 6% to $984.6 billion and Dimon noted that “credit is pristine” and “underwriting standards are pretty good”; the company is however telling management that they don’t have a problem with seeing loan books shrink as they want to prepared if we see a downturn; this is the highest amount that JPMorgan has provisioned for loan losses in three years. Source