The second-largest U.S. bank made new loans faster than customers paid off existing ones during the quarter, a reversal from the first quarter and a good sign for a business long plagued by weak loan demand.
JPMorgan's revenue rose and it added staff in the quarter, and its shares closed 1.8 percent higher on Thursday. But the bank faces big expenses from mortgages as the effects of the housing crisis linger.
Foreclosures could take another 12 to 18 months to start declining, Chief Executive Jamie Dimon said on a conference call with reporters.
There's been weak loan demand because they refused to lend for long enough to bankrupt the economy.