JPMorgan Chase (JPM.N) has posted record annual profit as its dealmakers and traders reaped a windfall from rebounding markets in the fourth quarter.
The banking giant was buoyed by a strong economy and interest rate cuts that boosted stock sales and bond offerings. The bullish environment also prompted more mergers and acquisitions after years of tepid activity.
Profit for 2024 rose to $58.5 billion from $49.6 billion a year earlier.
