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JPMorgan earns biggest-ever annual profit as investment bankers ride rebound


Published on 2025-01-15 17:40:43 - Reuters
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  • JPMorgan Chase's annual profit rose to a record as its dealmakers and traders reaped a windfall from rebounding markets in the fourth quarter, it reported on Wednesday.

JPMorgan Chase reported a significant increase in its fourth-quarter profit, driven by a rebound in dealmaking and trading activities. The bank's profit rose to $9.31 billion, or $3.04 per share, from $3.57 billion, or $1.28 per share, a year earlier. This surge was attributed to a 14% increase in investment banking fees and a 5% rise in trading revenue, as markets recovered from the previous year's downturn. Additionally, the bank benefited from higher interest rates, which boosted its net interest income by 19%. Despite setting aside $2.3 billion for potential loan losses, reflecting caution about economic uncertainties, the overall financial performance was robust, with CEO Jamie Dimon highlighting the bank's strong position amidst global economic challenges.

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[ https://www.reuters.com/business/finance/jpmorgan-profit-jumps-dealmakers-traders-ride-market-rebound-2025-01-15/ ]