US investment bank JPMorgan Chase & Co. (JPM) reported Friday a profit for the fourth quarter that declined 14 percent from last year, hurt primarily by higher noninterest expense and lower credit reserve releases. Both adjusted earnings per share and revenues for the quarter topped analysts' expectations.
"JPMorgan Chase reported solid results across our businesses benefiting from elevated capital markets activity and a pick up in lending activity as firmwide average loans were up 6%," said Jamie Dimon, Chairman and CEO.
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