(Reuters) – JPMorgan Chase reported on a 9% increase in its first quarter on Friday, notably increased by the increase in income from its trading activities.

The action of the largest American bank took approximately 3% in the trade in New York, even if CEO Jamie Dimon remained circumspect on the economy while US companies assess the repercussions of US President Donald Trump.

“Customers have become more cautious in the context of an increase in market volatility due to geopolitical and commercial tensions,” said Jamie Dimon.

“The economy is faced with considerable turbulence, including geopolitically,” he added.

The storm launched in early April by the customs duties imposed by President Donald Trump on his main trade partners focuses special attention to the sector, while American banking values ​​have been hardly struck in recent days, investors fearing a recession in the first world economy.

JPMorgan’s benefit amounted to $ 14.6 billion (12.88 billion euros), or 5.07 dollars per share, for the three months ending on March 31.

A year ago, the largest American bank had recorded a quarterly profit of $ 13.4 billion, or $ 4.44 per share.

Investment banking fees increased by 12% to $ 2.2 billion, and revenues from trading activities increased by 21%, above previous forecasts, which were tabling on a two-digit increase.

Revenues from trading activities jumped 48% to reach a record of $ 3.8 billion, brought by initial optimism regarding the adoption by US President Donald Trump favorable to growth, the relaxation of regulations and tax reduction.

This dynamic could however be undermined, weighed down by uncertainty around Trump’s trade policy and market turbulence.

(Written by NiKet Nishant in Bangalore and Nupur Anand in New York, Etienne Breban, edited by Augustin Turpin)

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