JPMorgan's Loan Business Notches Record Going Back-to-Basics
- Net interest income sets all-time high, provisions decline
- Bond-trading revenue slumps 10% on rates, credit businesses
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The biggest U.S. bank leaned on old-fashioned lending in the third quarter to weather a slump in fixed-income trading.
JPMorgan Chase & Co. said net interest income -- revenue from customers’ loan payments minus what it pays depositors -- jumped to a record $13.9 billion in the period, helped by rising interest rates and steady growth in what the bank considers core loans. Bond-trading revenue fell 10 percent.