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JPMorgan profit jumps on higher investment banking fees, accounting gain

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Jpmorgan Chase Nouvelles

Investment Banking,Share Exchange Deal

Investment banks have benefited from a resurgence in capital-raising activity both in debt and equities markets. 'While market valuations and credit spreads...

- JPMorgan Chase's profit rose in the second quarter, buoyed by rising investment banking fees and an $8 billion accounting gain 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 also extended its gains from lending, with net interest income - the difference between what it earns on loans and pays out on deposits - growing 4% to $22.9 billion versus a year earlier.

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