NEW YORK (AP) — JPMorgan Chase & Co. reported a 55-percent surge in first-quarter profit, reflecting strength across most of its primary businesses lines, especially investment banking.Still, the report yesterday from the nation’s third-largest bank showed some softness in its retail banking and credit card divisions. The bank also said it increased reserves to offset subprime mortgage losses — a step several other major financial institutions have taken.

The New York-based bank said net income totalled $4.8 billion, or $1.34 a share, in the January-March period, up from $3.1 billion, or 86 cents a share, a year earlier. The results were boosted by an 11 cent accounting change.

Revenue was nearly $19 billion, up from $15.2 billion a year earlier.