JPMorgan celebrates record year

JPMorgan Chase (US:JPM) has posted its highest ever annual profit, fuelled by a rise in investment banking fees and stronger demand for stocks and bonds.

Net income at the bank jumped by 50 per cent in the final quarter of 2024 to $14bn, and across the whole year it rose by 18 per cent to a record $58.5bn. Diluted earnings per share came in at $4.81, well above market estimates of $4.10. This allowed JPMorgan to increase its full-year dividend to $4.80 a share.