JPMorgan Chase more than doubles profits in 2009

US banking giant JPMorgan Chase kicked off a bumper results season for Wall Street titans after more than doubling profits in 2009. The figures revealed pay, bonuses and benefits across the bank as a whole rose 18% to $26.9 billion (€18.7bn).

JPMorgan – one of the strongest banks through the crisis – posted net income of $11.7bn for the year – up from $5.6bn.

The performance comes a day after President Barak Obama launched plans to claw back $90bn for the US taxpayers over 10 years in return for support given during the financial crisis.