Wall Street bank JP Morgan Chase has reported profits of $3.3bn (£2bn) for the last three months of 2009. That compares with profits of $702m reported at the end of 2008 at the height of the financial crisis.

Total profits for the year were $11.7bn, the bank said, with investment banking providing the bulk of the earnings.

Staff compensation – made up of salaries and bonuses – totalled $27bn for the year. Investment bankers earned $9.3bn in pay and bonuses. Jamie Dimon, JP Morgan’s chairman and chief executive, said he was pleased with the bank’s performance, but said it could be better.

“Though these results showed improvement, we acknowledge that they fell short of both an adequate return on capital and the firm’s earnings potential,” he said.

Categories: Bank, Forex, Market News, US Markets
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