JP Morgan reports $3.3bn profits

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

Net revenues for the quarter totalled $25.2bn - higher than a year ago but below previous quarters.

Total profits for the year were $11.7bn, the bank said, up from the $5.6bn it made in 2008, with $6.8bn made from investment banking alone.