JP Morgan to report large profits

Filed under: AM Roundup |

When JP Morgan Chase reports earnings tomorrow, it could hold on to its title of most profitable bank in America, Bloomberg said.

But that doesn’t mean other banks aren’t closing in.

Chase is expected to report a 6 percent increase in earnings, to $18.5 billion. But Wells Fargo is expected to report profits of $15.3 billion, a fourfold increase.

Read more at Bloomberg.