JPMorgan Chase & Co reported fourth-quarter earnings jumped, helped by narrowing losses on bad loans.
The bank said earnings climbed to $4.8 billion, or $1.12 a share, from $3.3 billion, or 74 cents a share, a year earlier. Analysts on average expected a profit of $1 a share, according to Thomson Reuters I/B/E/S.
Although we continue to face challenges, there are signs of stability and growth returning to both the global capital markets and the U.S. economy, said Chief Executive Jamie Dimon.
Fewer bad loans meant the bank could reduce loan loss reserves in its credit card unit by $2 billion.
Revenue increased 6 percent to $26.7 billion.
The bank's shares fell 20 cents to $44.25 in premarket trading.
(Reporting by Elinor Comlay; Editing by Lisa Von Ahn)