NEW YORK: Banking giant JPMorgan Chase & Co. said Thursday that its fourth-quarter profits rose 9 percent from a year earlier, helped by strong performance in its consumer banking division and lower legal expenses.

The largest US bank by assets said it earned $4.91 billion, or $1.32 per share, after payments to preferred shareholders, compared to a profit of $4.49 billion, or a $1.19 per share, a year earlier. The results topped analysts' forecasts, who were looking for JPMorgan to earn $1.26 per share, according to FactSet.

JPMorgan's latest results reflected similar themes CEO Jamie Dimon and the bank's management have been pushing for several quarters. The bank remained focused on cutting expenses, including through layoffs or other headcount reductions.

The bank was also impacted by the drop in oil prices, and the weakness in the commodity prices. The bank had to add to its credit reserves to cover loans to oil and gas companies, who have been struggling as oil plunged near $30 a barrel, as well loans to metal and mining companies.

"We had a good quarter as 2015 came to a close," Dimon said in a prepared statement. "The businesses generated strong loan growth and credit quality, except for some stress in energy."

JPMorgan's consumer bank, which includes its Chase consumer bank and its large credit card division, reported strong results in the fourth quarter. The consumer bank reported net income of $2.41 billion, up 10 percent from a year earlier. Auto lending was up 33 percent from a year earlier.

The corporate and investment banking division also reported a jump in profits, but it was largely tied to lower legal expenses. The division earned $1.75 billion in the quarter compared with $776 million a year earlier. The bank's legal expenses were $644 million compared with $1.1 billion a year earlier.

Net revenue at the bank totaled $22.89 billion, compared with $22.75 billion in the same period a year earlier.

For the full year, JPMorgan earned $22.41 billion, up 12 percent from a year earlier.

Shares of JPMorgan rose 2 percent in pre-market trading.