JPMorgan Chase & Co. said Friday that second-quarter profit rose 18%as the bank continues to benefit from a strong U.S. economy and the new federal tax law.

The bank reported a profit of $8.3billion, or $2.29 a share.

Analysts polled by Thomson Reuters had expected earnings of $2.22 a share.

JPMorgan, run by Chief Executive James Dimon, is one of a trio of big banks kicking off second-quarter earnings season for U.S. financial institutions. Together, the firms -- which include Citigroup Inc. and Wells Fargo & Co. -- offer investors a snapshot of a quarter that analysts were expecting to be characterized by loan growth mixed with sluggish trading.