JPMorgan Chase reported fourth-quarter 2010 net income of $4.8 billion, an increase of 47% compared with $3.3 billion for the fourth quarter of 2009 while full-year 2010 net income was $17.4 billion, an increase of 48% compared with $11.7 billion for the prior year. For the Card Services division, net income was $1.3 billion, compared with a net loss of $306 million in the prior year, and total merchant processing volume was $127.2 billion on 5.6 billion total transactions processed. Meanwhile, end-of-period loans were $137.7 billion, a decrease of $25.7 billion, or 16%, from the prior year and an increase of $1.2 billion, or 1%, from the prior quarter. Average loans were $135.6 billion, a decrease by 17% of $27.6 billion from the prior year and $4.5 billion from the prior quarter. With this, net revenue was $4.2 billion, a decrease of $902 million, or 18%, from the prior year. The provision for credit losses was $671 million, compared with $4.2 billion in the prior year and $1.6 billion in the prior quarter, thanks to lower net charge-offs and a reduction of $2.0 billion to the allowance for loan losses due to lower estimated losses.