JPMorgan Chase has reported a net income of $6.73bn for the third quarter of 2017, a rise of 7% compared to $6.28bn in the same period last year.
Net revenue for the period ended 30 September 2017 stood at $25.32bn, up 3% from $24.67bn in the previous year. Provision for credit losses increased 14% to $1.45bn from $1.27bn a year ago.
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The Asset & Wealth Management (AWM) division of the group posted a net income of $674m for the third quarter of 2017, a 21% surge from $557m in the corresponding quarter of 2017.
The division’s net revenues were $3.24bn, up 6% from $3.04bn in the previous year.
JPMorgan Chase chairman and CEO Jamie Dimon said: “JPMorgan Chase delivered solid results in a competitive environment this quarter with steady core growth across the platform. And for the first time, the Firm led the nation in total U.S. deposits, as consumers and businesses continue to view us as their partner of choice.”
