A strong economy is pushing up profits at big U.S. banks, with JPMorgan reporting its most profitable year on record
A healthy U.S. economy pushed up profits at America’s biggest banks, allowing them to grow even though falling interest rates made lending less profitable.
Consumer borrowing and a rebound in investment-banking revenues propelled JPMorgan Chase & Co. and Citigroup Inc. to double-digit earnings growth in the final three months of 2019. JPMorgan, the biggest U.S. bank by assets, reported its most profitable year on record.
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