JPMorgan Chase, the biggest US bank by assets, said today its fourth-quarter earnings shot up 55% over the year.
The bank made $5.3 billion after paying preferred dividends, compared with $3.4 billion this time a year ago.
Per share, those earnings amounted to $1.40, blowing away the $1.16 expected by analysts.
Quarterly revenue also beat expectations. It rose 10% over the year, to $24.4 billion, after stripping out an accounting charge. New mortgages jumped 33%.
The bank also announced that executives and board members had finished their separate reviews of the bank's surprise 2012 trading loss, which eventually ballooned to $6 billion.
Separately, it's reported that the bank has reached an out-of-court settlement over its lawsuit against the former boss of Bruno Iksil, the trader known as the "London Whale" for huge bets he took that cost the bank $6.2 billion, a person familiar with the matter said.
Javier Martin-Artajo, who was Iksil's immediate supervisor, had been named as a defendant in a lawsuit filed at London's High Court in October last.
JPMorgan said last July it was seeking to claw back pay from those people it held responsible for the losses. Details of the action against Martin-Artajo were not released.
A source familiar with the lawsuit said the case against Martin-Artajo had now been settled.
