JPMorgan Chase reported a 12 per cent rise in profits in the third quarter, boosted by gains at its trading division and a recovery in investment banking fees.
The largest US bank by assets and deposits said that net income in the quarter rose 12 per cent to $14.4bn, up from $12.9bn a year earlier and beating analysts’ forecast of $13.7bn.
There was a record third quarter for the markets business, with revenues of nearly $9bn amid higher demand for financing.
Chief executive Jamie Dimon said all businesses had “performed well” and said the bank benefited from a rebound in dealmaking and public listings.
On a busy day on Wall Street, Goldman Sachs and Citigroup are also set to report earnings shortly.
BlackRock earlier said that its assets under management surged to a record $13.5tn in the third quarter, bolstered by strong inflows across its iShares exchange traded funds business.
