The bank said profit rose 50% to $14 billion in the fourth quarter as noninterest expenses fell 7% from a year earlier.

JPMorgan Chase (JPM) churned out more profits than it ever has before as it earned $14 billion in the final quarter of 2024. Its full-year profits rose to $58 billion, an all-time record for JPMorgan and the most ever in the history of American banking.

JPMorgan Chase & Co.’s traders scored their biggest fourth-quarter haul ever, boosted by volatility tied to the US elections in November.

JPMorgan’s net income soared 50% to more than $14 billion in the fourth quarter as the bank’s profit and revenue easily beat Wall Street forecasts, and other major banks reported banner earnings for the year.