U.S. bank JP Morgan reported strong results in the fourth quarter as it jumped 6 percent from the earlier period to $11.0 billion in net income, or $3.57 per share, according to it statement on Friday.
Revenue rose 17 percent to $35.57 billion, fueled by the rise in net interest income to $20.3 billion, topping the StreetAccount estimate by $1 billion, as the bank saw average loans rise 6 percent.
The bank benefited from higher interest with net interest income – the difference between the bank’s deposit payments, loans and other assets, rising 48 percent year-on-year to $20.3 billion.
JPMorgan CEO Jamie Dimon, said on Friday that the U.S. economy “currently remains strong” thanks to well-financed consumers and businesses, he pointed to a series of risks to that outlook.
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