NEW YORK - JPMorgan Chase & Co posted higher second-quarter earnings on Thursday after setting aside less money for loan losses.
The second-largest US bank by assets said earnings jumped to US$4.8 billion from US$2.7 billion in the year-earlier period.
JPMorgan reported a benefit of US$1.5 billion after trimming its loan loss reserves in the quarter.
US stock index futures rose following the earnings report by the bank, a component of the Dow Jones industrial average.
JPMorgan shares closed down 13 cents at US$40.35 on Wednesday. The shares are down 3 per cent this year. -- REUTERS
