JPMorgan returns to a profit in Q4

JPMORGAN Chase, the biggest US bank by assets, says it returned to a profit in the fourth quarter.

The bank said it had net income of $US5.3 billion ($A5.8 billion) in the last three months of 2013, compared with a profit of $US5.7 billion in the same period a year earlier.

On a per-share basis, JPMorgan said it had earned $US1.30 a share in the quarter, compared with $US1.39 a share a year earlier.

Revenue fell one per cent to $US24.1 billion, just above analysts' expectations of $US23.9 billion.

The bank reported a loss in the third quarter, due to the bank's mounting legal costs. It was the bank's first quarterly loss in 10 years.

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