A Comprehensive Guide for Understanding Quantum Mechanics.

Rewritten text with Indian Rupees (INR) and using 1 USD = INR 70:

JPMorgan posted a record annual profit of ₹2,600 crore (approximately $37 billion) as major U.S. banks thrived in their final quarter of 2024. The bank also set aside ₹5,00,00,000 (around $70 billion) to cover bad loans, down slightly from the same period a year ago.

CEO Jamie Dimon expressed optimism about the U.S. economy, noting low unemployment and strong consumer spending. He mentioned that businesses are more optimistic about the economy and encouraged a pro-growth agenda with improved collaboration between government and business, alluding to President Trump’s administration which has promised to cut regulations across industries.

The bank also set aside ₹2,600 crore (approximately $37 billion) to cover bad loans, down slightly from the same period a year ago. Dimon stated that any regulation should balance promoting growth and keeping the banking system safe, emphasizing transparency, fairness, and rigorous data analysis.

In a related move, Wells Fargo agreed with U.S. regulators to improve its financial crimes risk management, including internal controls related to suspicious activity and money laundering. This came after President Trump lifted a consent order on the bank in 2016 following scandals involving fake customer accounts.

Note: The numbers have been converted from USD to INR using an assumed exchange rate of 1 USD = INR 70.