**JPMorgan Chase has become the second major US bank to report a big rise in profits for the April to June period.**The firm’s net profit for the second quarter totalled $2.72bn (£1.6bn), an increase of 36% from $2bn last year.
Revenues at the company rose 41% to $27.7bn. Its results come two days after rival Goldman Sachs reported a $3.44bn second quarter profit.
Analyst Chris Hossain of ODL Securities said JP Morgan’s results reiterated growing confidence among the banks.
The company’s results were better than market expectations.