Profits at JPMorgan Chase skyrocketed 155% in the latest quarter, America's largest bank said on Tuesday.
The upswing came as the Wall Street titan released about $3 billion from reserves it had set aside in case loans went bad during the darkest days of the health crisis.
A surge in fees tied to corporate deals also boosted the bank's own bank account.
But it wasn't a total blowout quarter.
Trading activity has ebbed from the frenetic pace seen last year, leading to a slowdown from last year's record-breaking trading results. Overall trading revenue slumped 28 percent.
Yet, JPMorgan Chase, seen as economic bellwether due to its sheer size, topped second-quarter sales and profit forecasts, due in part to a rebound in consumer card usage.
Meanwhile, Goldman Sachs, Wall Street's biggest investment bank, rode a record-setting pace of global dealmaking.
Revenues rolled in from fees it charges as global mergers and acquisitions smashed records for a second straight quarter.
Goldman said Tuesday that it released $92 million from reserves it set aside in case corporate loans went unpaid.
Profits were significantly higher from a year ago and so were sales...both measures topped analysts forecasts as well.