PMorgan Chase, the biggest bank by assets in the US, has reported a record third-quarter profit.
The bank said it made $5.7 billion in the three months from July to September, shooting up 34% from the same time a year ago.
Earnings were $1.40 per share, far exceeding the $1.21 predicted by analysts.
Revenue rose 6% to $25.1 billion, beating expectations of $24.4 billion. Earnings were helped because the bank set aside less money for bad loans.
It set aside $1.8 billion for potential loan losses, down 26% from $2.4 billion a year ago.
