JPMorgan’s net income soared 50% to more than $14 billion in the fourth quarter as the bank’s profit and revenue easily beat Wall Street forecasts, and other major banks reported banner earnings for the year.

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

JPMorgan Chase’s fourth-quarter profit jumped 50%, boosted by strong revenues across its businesses, particularly on Wall Street. The earnings amounted to $4.81 a share, well above the $4.09 a share analysts polled by FactSet expected.