JP Morgan Chase, the second-largest US bank, said profit more than quadrupled on higher investment-banking revenue in the fourth quarter.

The bank lost money on consumer loans and increased provisions for future defaults. Net income for the three months climbed to $3.28 billion (€2.28 billion), or 74 cents a share, from $702 million, or six cents, in the same period a year earlier, the bank said.

– (Bloomberg)