J.P. Morgan sees rise in revenue for Q2 16 July 2018New York Reporter: Brian Bollen
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J.P. Morgan’s securities services revenue was US $1.1 billion up 12 percent from Q1, according to its Q2 results.
The bank said this was predominantly driven by higher interest rates and deposit growth, as well as higher asset-based fees driven by new client activity and higher market levels.
Total markets and investor services revenue was $6.5 billion in the second quarter, also up 12 percent, as markets revenue rose 13 percent to $5.4 billion.
Equity markets revenue was $2.0 billion, up 24 percent, driven by strength across products, predominantly in derivatives and prime.
Total net income was $3.2 billion, an increase of 18 percent.
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