Business

US bank profits grow, with several caveats

Bank of America, JPMorgan, and Wells Fargo reported growing deposits, but one ongoing trend is declining revenue.
Bank of America, JPMorgan, and Wells Fargo reported growing deposits, but one ongoing trend is declining revenue.Stan HONDA/AFP/getty Images/File 2012

This is a summary. To read the whole story subscribe to BostonGlobe.com

NEW YORK — Three of the nation’s biggest banks — JPMorgan Chase, Bank of America and Wells Fargo — are benefiting from growing deposits, fewer bad loans and higher investment banking fees.

But not everything is rosy as the banks report earnings this week. Revenue remains weak and some of the banks’ earnings have come from one-time accounting moves. There are also ongoing legal expenses related to mortgage securities and other kinds of lawsuits.

Here are some trends in fourth-quarter bank earnings.

Full story for BostonGlobe.com subscribers.

Get the full story with unlimited access to BostonGlobe.com.

Just 99 cents for four weeks.

Share