JP Morgan Chase & Co (NYSE: JPM) announced a record second-quarter profits on Friday, sending shares up one percent in pre-market trading.
The lender posted a profit of $8.3 billion, which is an increase of 18 percent from the same period last year.
“We see good global economic growth, particularly in the U.S., where consumer and business sentiment is high,” said CEO of the group, Jamie Dimon.
“Because of this broad growth and the strong underlying performance across each of our businesses, the company delivered record results this quarter. We also want to acknowledge that global competition is getting stronger.”
This is the 14th straight quarter that JP Morgan has topped analysts’ estimates.
The group’s loans increased by four percent to $948.4 billion.
