The Traderszone Network

Published in TZ Latest News 14 January, 2016 by The TZ Newswire Staff

JPMorgan posts better-than-expected profit as costs kept in check

The New York-based bank is the first big U.S. lender to report results since the Federal Reserve raised its key interest rate for the first time since 2006 on Dec. 16. Higher interest rates are usually good for banks, allowing them to charge higher rates on loans. JPMorgan’s net income rose to $5.43 billion in the three months ended Dec. 31 from $4.93 billion a year earlier.