Oct 13 (Reuters) - JPMorgan Chase's (JPM.N), opens new tab profit rose in the third quarter, boosted by growth in investment banking and trading.
The US banking giant on Tuesday posted net income of $15.3 billion, or $5.57 per share, for the three months ended September 30, compared with $14.4 billion, or $5.07 per share, a year earlier.
Wall Street's trading desks have enjoyed a banner year, with JPMorgan extending its winning streak as market volatility driven by uncertainty over global interest rates and surging energy prices boosted trading activity.
The steady stream of market-moving events has kept investors on edge, driving them to rejig portfolios and hedge against risks.
Revenue at JPMorgan's markets division, which houses its equity and fixed-income trading desks, climbed 15% in the third quarter from the prior year.
The bank has retained its crown as the top earner of investment banking revenue, according to Dealogic data. The unit has continued to outperform despite a slowdown in dealmaking as companies grapple with uncertainty over the Federal Reserve's interest-rate path and growing concerns that AI spending may be losing momentum.
Meanwhile, debt capital markets have emerged as a notable bright spot for the industry, as big-tech giants raise billions of dollars to fund growth ambitions around AI.
JPMorgan's investment banking fees rose 14% in the quarter, compared with a year earlier.
Reporting by Manya Saini in Bengaluru and Nupur Anand in New York; Editing by Saumyadeb Chakrabarty
