The bank said profit rose 50% to $14 billion in the fourth quarter as noninterest expenses fell 7% from a year earlier.

JPMorgan Chase (JPM) churned out more profits than it ever has before as it earned $14 billion in the final quarter of 2024. Its full-year profits rose to $58 billion, an all-time record for JPMorgan and the most ever in the history of American banking.

Big bank profits surged in the fourth quarter and Wall Street roared back to life, with net income rising 50% at JPMorgan Chase and more than doubling at Goldman Sachs.

JPMorgan’s net income soared 50% to more than $14 billion in the fourth quarter as the bank’s profit and revenue easily beat Wall Street forecasts, and other major banks reported banner earnings for the year.

JPMorgan Chase's annual profit rose to a record as its dealmakers and traders reaped a windfall from rebounding markets in the fourth quarter, it reported on Wednesday. The largest U.S. bank also forecast its net interest income,