The third biggest US bank JPMorgan Chase & Co has reported a 54% increase in quarterly earnings, helped by gains in investment banking and private equity.
First quarter net profit rose to $4.8 billion, or $1.34 a share from $3.1 billion, or 86 cents, from the same quarter a year ago.
The bank has said it plans to invest $1 billion in investment banking in 2007 - about 33% more than in 2006 - to expand in markets including energy trading in Asia.
