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.

At least one sector in the economy is making a ton of money – loans! Money being made on money!

Source: JPMorgan Just Had the Most Profitable Year in the History of Banking – Bloomberg

Leave a Reply