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JPMorgan Q2 net income up 13.4% to $7.03 billion on better loan growth

Markets revenue fell 14%, led by a 19% decrease in fixed income markets revenue to $3.22 billion


JPMorgan Chase & Co, the biggest US bank by assets, reported a better-than-expected quarterly profit on Friday as gains from higher interest rates and loan growth more than offset a drop in bond trading. Trading revenue fell for the first time in five quarters as volatility hit multi-year lows, but the drop was not as bad as expected by a company executive in the run-up to the results. Executives at big banks warned in recent weeks that trading revenue for the quarter would be down from a year earlier, when client trading surged around UK's Brexit vote. The quarter ...

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First Published: Fri, July 14 2017. 22:14 IST