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JPMorgan profit beats on better-than-expected trading, loan growth

Reuters 

By Sweta Singh and David Henry(Reuters) - JPMorgan Chase & Co's quarterly profit topped Wall Street's expectations on Friday, as trading revenue came in much higher than expected and demand for loans increased on the back of a strengthening U.S. economy.U.S. banks are benefiting from a cut in corporate tax rates, hikes in interest rates and a growing economy that is driving demand from borrowers while holding down loan loss rates."We see good global economic growth, particularly in the U.S., where consumer and business sentiment is high," Chief Executive Officer Jamie Dimon said.Overall, the ...

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First Published: Fri, July 13 2018. 17:24 IST
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