(Reuters) -JPMorgan Chase posted a 67% jump in profit for the second quarter on Friday as it earned more in interest from borrowers.
The largest U.S. lender's profit climbed to $14.47 billion, or $4.75 per share, for the quarter ended June 30. That compares with $8.65 billion, or $2.76 per share a year earlier.
JPMorgan bought a majority of failed First Republic Bank's assets in a government-backed deal in May after weeks of industry turbulence.
That bolstered its net interest income, which measures the difference between what banks earn on loans and pay out on deposits.
Shares of the bank rose 2.4% to $152.49 in premarket trading.
(Reporting by Niket Nishant and Noor Zainab Hussain in Bengaluru and Nupur Anand in New York; Editing by Lananh Nguyen)
