Strong increase in JP Morgan profits

An Irish branch of global banking giant JP Morgan last year recorded a large increase in profits compared to the previous year.

Pre-tax profits at JP Morgan Dublin PLC rose by almost $6.5m (€5m) to $15.6m in the 12 months to December 2013.

The company — which is separate to another of the banking giant’s Irish operations, JP Morgan Bank (Ireland) — is focused on lending to companies in which the JP Morgan Group has an equity or affiliate interest.