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

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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.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/jpmorgan-profit-jumps-dealmakers-traders-ride-market-rebound-2025-01-15/ ]