JPMorgan Chase & Co which is the biggest U.S. bank by assets has reported a 6.7 percent decline in quarterly profit on account of an increase in the cost to cover possible sour loans to troubled shale oil companies and decline in revenue from trading and investment banking.

The net income of bank fell to $5.52 billion in the first quarter ended March 31 from $5.91 billion of a previous year. Earnings fell to $1.35 from $1.45 on a per share basis.

Read EquityPandit’s BankNifty Outlook for this week