(24 April 2006 – USA) JPMorgan Chase has posted a better than expected first quarter profit, with net income rising to US$3.1 billion up from US$2.3 billion for the same period last year.The bank said the strong result was built on its investment banking performance, credit cards and consumer banking.
Under the regime of chief executive James Dimon, JPMorgan has improved its investment banking performance and has focused on its retail business, boosting its distribution network through acquisitions.