JPMorgan, Citigroup Report Higher Profit, Boosted by Stronger Economy

Largest U.S. bank by assets also benefited from new tax law, loan growth

JPMorgan Chase & Co. and Citigroup Inc. posted second-quarter earnings that beat analyst expectations, although Wells Fargo & Co. stumbled due in part to what the bank said was a one-time tax expense related to a court decision.

While bank customers have been worried by trade and tariff disputes, JPMorgan executives said this hasn’t so far affected spending and investment decisions by businesses.

JPMorgan...