JP Morgan’s Irish profits up 78%

Pre-tax profits at the IFSC-based arm of banking giant JP Morgan increased last year by 78% to $26.7m (€21.8m), new figures show.

Accounts just filed by JP Morgan Bank (Ireland) with the Companies Registration Office show that the assets it had under management increased by 25% from $192.2bn to $240.9bn.

Overall, the fees and commission generated by the firm increased by 25% from $80.7m to $101.3m last year.