Investment Banking

JPMorgan’s investment bank slips by 19% as trading boom wanes

Fixed income trading has fallen off in the second quarter, as investment banking fees hit new highs

Jamie Dimon, chief executive officer of JPMorgan Chase & Co
Jamie Dimon, chief executive officer of JPMorgan Chase & Co Photo: Tiffany Hagler-Geard/Getty Images

JPMorgan's investment bank slipped in the second quarter as the boom in trading revenues throughout the Covid-19 crisis has finally started to wane.

The US bank posted net profits of $11.9bn, ahead of the $9.5bn expected by analysts as it reversed credit losses booked last year with a $3bn gain. Revenues across the bank were $31.4bn, again coming in ahead of consensus.

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