The bank said profit rose 50% to $14 billion in the fourth quarter as noninterest expenses fell 7% from a year earlier.

Activity on Wall Street helped buoy the bank’s fourth-quarter earnings.

JPMorgan Chase, the largest bank in the U.S. by assets, reported fourth-quarter net income of $14 billion, topping Wall Street’s expectations of $11.7 billion. Quarterly profit rose 50% from a year earlier.