JPMorgan (JPM) Said to See Net Profit of Around $300M on Swiss Franc Turmoil

JPMorgan (NYSE: JPM) is said to have gained up to $300 million following the Swiss franc fiasco earlier in January.

Bloomberg noted that JPMorgan netted somewhere between $250 and $300 million, while peers like Citigroup (NYSE: C), Deutsche Bank (NYSE: DB), and Barclays (NYSE: BCS) all suffered losses.

Following the Swiss National Bank’s move to uncap the Swiss franc's 1.20 exchange rate versus the euro on January 15th, the franc shot up 41 percent in one day.

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