JPMorgan profit jumps on higher investment banking fees, accounting gain

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Jpmorgan Chase Nieuws

Investment Banking,Visa,Share Exchange Deal

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, ...

- 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.

The bank benefited from a plan to exchange some of its shares in Visa, the world's largest payment network. Wall Street banks are also seeing an uptick in fee income from advising on M&A deals as companies become more confident on the U.S. economy's ability to avoid a major downturn.JPMorgan's investment banking fees grew 50%, higher than an earlier company prediction of 25% to 30%.

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