JP Morgan’s private banking business has seen an increase in both its fourth quarter and overall full year revenue.
The US bank reported a 6% increase in private banking revenue quarter-on-quarter to $1.44bn from $1.37bn.
In addition, the company’s private banking revenue saw a 19% jump year-on-year from $1.212bn in the fourth quarter of 2011.
Full year revenue also saw a 6% rise year-on-year, increasing substantially to $5.43bn in 2012 from $5.12bn in 2011.
Bulk of revenue from North America
In terms of geographic location, the bulk of the fourth quarter revenue for JP Morgan’s private banking business came from North America, estimated at $935m.
The Europe, Middle East and Africa region generated the second biggest sum of revenue estimated at $247m.
The Asia Pacific region and Latin America and Caribbean region both generated less revenue but were close in numbers, with an estimated $133m and $126m respectively.
Assets under management (AuM) in JP Morgan’s private banking unit also rose 2% in the fourth quarter and 9% year-on-year to $318bn.