JPMorgan Chase (JPM.US) expects trading and investment banking revenue to grow by over 10% in the first quarter, Wall Street banks are expected to usher in another "bumper season".

As Wall Street banks continue to benefit from volatility and recoveries in the capital markets, JPMorgan Chase (JPM.US) may see a growth of over 10% in trading revenue and investment banking revenue in the first quarter. JPMorgan Chase COO Jenn Piepszak said on Tuesday that trading revenue may increase by a "low double-digit" percentage compared to the same period last year, while investment banking expenses may rise by around 15%. She pointed out that the growth momentum from the last few months of last year continued, with JPMorgan Chase traders achieving their best fourth-quarter performance ever. In terms of investment banking business, debt issuance remains "very strong," and the largest U.S. bank expects initial public offerings to "truly recover." Piepszak also mentioned that the revival in mergers and acquisitions will "take some time," but JPMorgan Chase remains optimistic about the recovery in this business. Piepszak was appointed as COO of JPMorgan Chase last month, after managing the bank's commercial and investment banking business with Troy Rohrbaugh for about a year. Data shows that JPMorgan Chase's net profit in the fourth quarter was $14 billion, a 50% increase from $9.3 billion in the same period the previous year. Trading revenue in the fourth quarter increased by 21% year-on-year to $7.05 billion, while investment banking revenue increased by 49% to $2.48 billion.