NEW YORK, Jan 14 — JPMorgan Chase saw profits jump in the fourth quarter, topping expectations amid strong credit card lending and good performance in trading, the bank reported today.

The biggest US bank by assets, JPMorgan said profits surged 20.6 per cent to US$8.5 billion for the three months ending December 31, kicking off the corporate earnings season with a strong performance.

Revenues rose 9.0 per cent to US$29.2 billion.

Chief Executive Jamie Dimon said despite the "continued high level of complex geopolitical issues” facing the global economy, the "resolution of some trade issues helped support client and market activity towards the end of the year.”

Dimon described the holiday season as "robust,” as reflected in a 10 per cent jump in credit card sales volumes.

Earnings rose in three of the banking giant’s four operating divisions, with an especially big jump in corporate and investment bank results. Fixed income trading, a weak area in some recent quarters, surged 86 per cent.

JPMorgan’s share price rose 1.7 per cent to US$139.55 in pre-market trading on the news. — AFP