US banking giant JP Morgan Chase has reported a rise in profits for the three months to September.
JP Morgan reported a profit of $6.8 billion (£4.5bn) during the quarter, up from $5.5bn last year. Despite the rise, profits did not meet analysts expectations.
That is partially due to lower revenues. The bank posted income of $23.5bn, down from $25bn in the same period last year. It also suffered legal costs worth $1.3bn during the quarter. However, it did receive tax benefits of $2.2bn.
JP Morgan said that sales of its loan products had grown 15% during the three month period. And that the balance of those loans was up 13%.
In a statement, chief executive Jamie Dimon said: "We had decent results this quarter.
"We saw the impact of a challenging global environment... We continue to focus on our commitments, optimize our balance sheet and manage our expenses."