JP Morgan Chase’s consumer & community banking arm has posted a net income of $2.4bn in the fourth quarter of 2015, up 10.4% compared to a net income of $2.18bn in the year ago quarter.
Total net revenue stood at $11.22bn, a rise of 2.4% from $10.95bn a year ago.
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Total noninterest expense for the quarter decreased 2.1% to $6.27bn from $6.41bn in the fourth quarter of 2014.
Provision for credit losses rose 9.2% to $1.04bn compared to $950m in the prior year quarter.
Overall, the banking group reported a net income of $5.43bn, up 10.2% compared to $4.93bn a year earlier. Total net revenue increased 0.5% to $22.88bn from $22.75bn in the corresponding quarter of 2014.
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