JPMorgan's (JPM.N) profit jumped 35% on the year-ago quarter, while Wells Fargo (WFC.N) profit surged 60%. The banks benefited from higher interest rates, which have bolstered banks' net interest income (NII), or the difference between what they earn on loans and pay out on deposits. JPMorgan and Wells Fargo, the first- and fourth-largest U.S. lenders, respectively, also increased their outlook for NII. Regional lender PNC Financial Services' (PNC.N), meanwhile, reported higher consumer loan delinquencies. JPM and Wells reported a decline in average deposits.

---

Persons: Shannon Stapleton, Wells, Jamie Dimon, Wells Fargo, Charlie Scharf, Jane Fraser, Dimon, JPMorgan's NII, Saeed Azhar, Ann Saphir, Megan Davies, Lananh Nguyen, Michelle Price, Nick Zieminski Organizations: JPMorgan Chase's, REUTERS, Citigroup, JPMorgan, Citi, PNC, PNC Financial Services, Thomson Locations: New York, Major U.S, Wells Fargo, U.S