JP Morgan profit beats on better-than-expected trading, loan growth
US banks are benefiting from a cut in corporate tax rates, hikes in interest rates and a growing economy that is driving demand from borrowers while holding down loan loss rates.
Overall, the bank's revenue rose 6.5% to $28.39 billion and topped the average analyst estimate of $27.36 billion, driven by growth in all four of the bank's businesses.
Published Date: Jul 13th, 2018 05:33 PM | Updated Date: Jul 13, 2018 05:33 PM IST
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