Double-digit growth in deposits and record credit card sales helped push JPMorgan Chase's quarterly earnings well past analysts' expectations.
The company on Friday reported fourth-quarter earnings of $1.71 per share on revenue of $24.333 billion. Its stock price edged higher in premarket trading.
Analysts expected JPMorgan Chase to report a profit of $1.44 per share on revenue of $23.949 billion, according to a consensus estimate from Thomson Reuters.
The stock has been near 52-week highs since mid-December. Fridays' report marks the bank's first results since the Federal Reserve raised its key interest rate target in a year. The Fed is expected to raise them again three times this year.
JPMorgan Chairman and CEO Jamie Dimon said as the U.S. economy builds momentum, there is opportunity for "good, rational and thoughtful policy decisions to be implemented."