April 13 JPMorgan Chase & Co, the
biggest U.S. bank by assets, reported a 16.8 percent rise in
quarterly profit on Thursday as the bank made more loans and
racked up additional revenue from increased trading.
The bank's net income rose to $6.45 billion in the first
quarter ended March 31 from $5.52 billion a year earlier.
Earnings per share rose to $1.65 from $1.35. [bit.ly/2nHTfHJ
Analysts had expected earnings of $1.52 per share, according
to Thomson Reuters I/B/E/S. It was not immediately clear if the
reported results were comparable.
Trading increased across Wall Street over the past year as
investors changed their positions around the Brexit vote, the
U.S. elections and the Federal Reserve's hikes in interest
Customers also borrowed more as the economy expanded, though
the pace of loan growth has slackened somewhat recently.
Wells Fargo & Co and Citigroup Inc are also
scheduled to report results on Thursday.
(Reporting by Sweta Singh in Bengaluru and David Henry in New
York; Editing by Saumyadeb Chakrabarty)