JPMorgan Chase has posted a net income of $6.2bn for the second quarter of 2016, a marginal decline of 1% compared to $6.29bn in the year-ago quarter.
However, net revenue increased 2% to $24.38bn from $23.81bn in second quarter of 2015.
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During the quarter, the group's provision for credit losses were $1.4bn, compared to $935m a year ago. Noninterest expense dropped 6% to $13.64bn from $14.5bn a year earlier.
The bank's consumer and community banking arm reported a net income of $2.65bn for the quarter, up 5% from $2.53bn a year ago.
The unit's net revenue increased 4% to $11.45bn from $11.01bn in the corresponding quarter of 2015.
Net interest income at the division was up by 6% to $7.31bn from $6.92bn a year ago, while noninterest revenue increased 1% year-on-year to $4.14bn.
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By GlobalDataThe unit’s provision for credit losses stood at $1.2bn, compared to $702m in the prior year quarter.
JPMorgan chairman and CEO Jamie Dimon said: “JPMorgan Chase continued to perform well in all of our major businesses. We saw strong underlying performance with record consumer deposits (up 10%), credit card sales volume (up 8%), merchant processing volume (up 13%) and broad core loan growth (up 16%) – particularly in mortgage and commercial real estate. Outside of energy, both wholesale and consumer credit quality remained very good."
