reported a 25 per cent rise in second-quarter profit on Friday, buoyed by rising investment banking fees and an accounting gain of about $8-billion from a share exchange deal with Visa.
“While market valuations and credit spreads seem to reflect a rather benign economic outlook, we continue to be vigilant about potential tail risks,” CEO Jamie Dimon said, adding that the risks included a changing geopolitical situation, which remains the most dangerous since World War II. The largest U.S. bank’s profit was $18.15-billion, or $6.12 per share, for the three months ended June 30, compared with $14.47-billion, or $4.75 per share, a year earlier, it said on Friday.
JPMorgan benefited from a plan to exchange some of its shares in Visa, the world’s largest payment network.