JPMorgan Profit Slips But Bank Still Posts Most Profitable Year Ever

JPMorgan reported fourth-quarter results Friday. Photo: Marissa Alper for The Wall Street JournalJPMorgan Chase’s fourth-quarter profit slipped, but it was still enough to push the bank to a record-breaking result for the full year.Throughout 2023, the nation’s biggest bank benefited from higher interest rates, which increased margins in its lending business. When other banks suffered in a crisis of confidence starting in March, depositors rushed to JPMorgan’s vaults, and the chaos also resulted in a lucrat ...