JPMorgan Chase & Co reported lower fourth-quarter profit as the European debt crisis weighed on trading and corporate deal-making.

The first major U.S. bank to announce results for the period, JPMorgan said net income was $3.72 billion, or 90 cents a share, compared with $4.83 billion, or $1.12 a share, a year earlier.

The company's quarter-end share count declined 4 percent from a year earlier as it bought back stock.

(Reporting by David Henry in New York; editing by John Wallace)