Bigger-than-expected profits for US banking giant

US investment banking giant JP Morgan Chase kicked off the third-quarter bank reporting season today with a bigger-than-expected surge in profits.

US investment banking giant JP Morgan Chase kicked off the third-quarter bank reporting season today with a bigger-than-expected surge in profits.

JP Morgan – the largest US bank – posted a forecast-beating US$3.6bn (€2.41bn) in net income for the three months to September, up from US$527m (353.57m) a year earlier.

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