JP Morgan Chase's first quarter earnings rose a larger-than-expected 55% on a 30% drop in credit-loss provisions as the giant bank continued to post improved results.

The profit "reflected another strong quarter for the investment bank, particularly in fixed income markets, and continued solid performance" at the company's asset management and commercial- and retail banking operations, said chairman and chief executive Jamie Dimon. "Unfortunately, these good results were partially offset by high losses in the consumer credit portfolios," he said.