From RTTNews:

JPMorgan Chase & Co. reported a 15% decrease in profit for the fourth quarter, totaling $9.31 billion or $3.04 per share. Adjusted earnings per share and revenues exceeded analysts’ expectations. The provision for credit losses was $2.76 billion, reflecting a net reserve build of $598 million and net charge-offs of $2.2 billion, up 21% from last year. Total net revenue on a reported basis was $38.57 billion, with net interest income at $24.2 billion, up 19% from last year. Non-interest revenue was $15.8 billion, up 3% from last year. Banking & Wealth Management net revenue was $10.88 billion, up 15%. Card Services & Auto net revenue was $6.06 billion, up 8%. Commercial Banking net revenue increased 18% to $4.02 billion from last year. Asset & Wealth Management net revenues improved 11% to $5.10 billion from last year. Dimon expressed concern over potential harm to consumers, businesses, and markets due to recent legislative proposals.



Read more: JPMorgan Q4 Profit Down 15%, But Results Top Estimates