JPMorgan registers better than expected net profit, stock jumps

April 15, 2015 1:20 AM

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JPMorgan registers better than expected net profit, stock jumps

JPMorgan Chase and Co has reported 12 percent rise in net profit for the first quarter. The biggest bank in the United States by assets has managed to increase the revenue from stock and bond trading for the first time since 2010. JPMorgan Chase reported $5.91 billion profit ($1.45 per share) compared to $5.27 billion reported for the same quarter last year.

With the strong results, Chairman and CEO James Dimon will be able to silence some of the investors urging the group to split different divisions to unlock value. The financial services major reported 4.1 percent increase in revenue at $24.82 billion.

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