JPMorgan Chase says its fourth-quarter profit jumped 47% as the company was able to set aside less money to cover loan losses. The New York bank earned $4.83 billion, or $1.12 per share. It earned $3.28 billion, or 74 cents a share, during the same quarter last year. Analysts surveyed by FactSet forecast the bank would earn $1 per share. Profit in the investment bank fell 21% from last year, but was up 17% from the third quarter on higher fees related to underwriting debt.
Chase’s profit jumps 47% in 4Q
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