The US banking giant started the ball rolling yesterday on the quarterly reporting season in the US. A number of major banks are slated to issue results in coming days.

JP Morgan kicked off the bank's third-quarter reporting season by announcing that net income rose 6 per cent from the same quarter of 2025 to $15.3 billion. However, profit fell 28 per cent from the second quarter, weighed down by a loss in the corporate segment.

Third-quarter net revenue rose 8 per cent year-on-year to $50.2 billion, while noninterest expense rose 12 per cent to $27.295 billion. The provision for credit losses fell 19 per cent to $2.743 billion.

JP Morgan reported $658 million of net investment securities losses in its corporate segment during the quarter, which reduced earnings per share by $0.18. The corporate segment posted a net loss of $455 million in the third quarter, compared with net income of $825 million a year earlier.

In asset and wealth management, net income rose 11 per cent from a year before to $1.843 billion. Net revenue and noninterest expense both rose 14 per cent.

Assets under management rose 13 per cent to $5.2 trillion, and client assets rose 15 per cent to $7.9 trillion, driven by continued net inflows and higher market levels, the bank said.

Shares of the US banking group have risen about 3.3 per cent since the start of the year, peaking on 12 August before losing ground. They closed at $332.99 on Friday.

The bank’s standardised Common Equity Tier 1 capital ratio was 13.9 per cent at the end of September.