JPMorgan Just Had the Most Profitable Year in the History of Banking

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Jamie Dimon proved JPMorgan Chase & Co. doesn't just rely on traders for profits.

The bank earned $26.5 billion over the past 12 months, the most ever by any major U.S. bank. While trading results reported Friday were worse than analysts expected, second-quarter net income set a record and the company said it will increase loans to companies and consumers this year at a rate that's double what analysts predicted.

JPMorgan reached this peak with record revenue from its commercial bank and record profit at its wealth-management division. The lender also benefited from higher interest rates as the Federal Reserve raised its benchmark lending rate for the third time in six months in June.

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Dec 31, 1969


Dec 31, 1969