JPMorgan Chase delivered its strongest quarterly profit ever, fueled by record trading revenue and a multibillion-dollar gain from its long-time Visa holdings.

The bank reported second-quarter net income of $21.2 billion, while adjusted earnings excluding one-off items totaled $16.9 billion.

Managed revenue increased 27% year over year to $58 billion, while the bank generated a 24% return on equity and maintained a 14.1% CET1 capital ratio. Average loans expanded 10%, deposits rose 7%, and credit costs totaled $2.5 billion, as operating expenses increased to $27.3 billion.

The quarter included $5.6 billion in gains from Visa shares and equity investments.

Strong performance was driven by broad-based growth across JPMorgan’s businesses, led by the Commercial & Investment Bank, where investment banking fees rose 30% and markets revenue increased 35%. Equities trading revenue soared 86% year-over-year to over $6 billion, lifting total trading revenue to a record $12.1 billion.

Consumer banking and asset and wealth management also reported higher revenue and profits, with assets under management reaching $5.1 trillion.

JPMorgan paid a $1.5 quarterly dividend, repurchased $6.2 billion of stock, and increased its full-year net interest income forecast to about $105.5 billion.

CEO Jamie Dimon said the bank benefited from a supportive market environment and disciplined execution but cautioned that risks such as geopolitical conflicts, stubborn inflation, widening fiscal deficits and high asset valuations remain.