| JPMorgan earnings rise to record $6.5bn | JPMorgan Chase saw its net income rise 33 per cent to $6.5bn in the first quarter as the largest US bank by assets produced steady revenues while cutting expenses.
The results – the first in Wall Street's earnings season – beat analysts' expectations of about $5.4bn in net income.
Retail banking, powered partly by mortgage originations, and corporate and investment banking, driven by debt issuance, contributed to what Jamie Dimon, chief executive, called "a very good start to the year".
However, he warned that although there were signs that the US economy was "healthy and getting stronger", "loan growth across the industry has been softer this quarter".
http://link.ft.com/r/LVA6WW/A59HTO/8AFKMI/II4P7N/Q3ZQ6P/50/h?a1=2013&a2=4&a3=12
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