JP Morgan kicks off the banking reporting season in the US Wall Street giant JP Morgan Chase has seen a rise in first-quarter profits, helped by an improved performance in its credit card business.
The second-largest US bank announced profits of $5.6bn (£3.4bn) for the three months to the end of March, up from the $3.3bn it made a year ago.
Its card services unit made a $1.3bn profit, compared with a loss of $303m in the first quarter of 2010.
Analysts said the results were ahead of estimates.
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