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JPMorgan gets boost from lending as trading slumps
October 12, 2017 / 10:57 AM / in 2 months

JPMorgan gets boost from lending as trading slumps

Oct 12 (Reuters) - JPMorgan Chase & Co, the largest U.S. bank by assets, reported a 7.1 percent rise in quarterly profit on Thursday as gains from loan growth and higher interest rates more than offset a slump in trading revenue.

Net profit rose to $6.73 billion, or $1.76 per share, for the third quarter ended Sept. 30, from $6.29 billion, or $1.58 per share, a year earlier. (bit.ly/2wPQtka)

Analysts had expected earnings of $1.65 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported results were comparable. (Reporting by Sweta Singh in Bengaluru and David Henry in New York; Editing by Saumyadeb Chakrabarty)

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