NEW YORK: JP Morgan Chase said its second quarter profits more than doubled from a year ago - a reflection of the improving global economy and fewer bad loans on its balance sheet. But the bank's revenues fell noticeably in the quarter, due partially to a decline in interest rates during the last three months.

The nation's biggest bank by assets said on Tuesday that it earned $11.95 billion, or $3.78 per share, up from a profit of $4.69 billion, or $1.38 a share, in the same period a year ago. The results topped Wall Street's forecast for earnings of $3.20 a share this quarter, according to FactSet.