Average core loans, excluding CIB, were up 7% year-over-year. The company distributed $6.6 billion to shareholders during the second quarter. Last month, JPMorgan received approval to increase its dividend to $0.80 per share from the third quarter of 2018. The company also authorized an equity repurchase program valued at $20.7 billion.
Total revenues in its CCB business increased 10% during the quarter. In the CIB business, revenues grew 11%. Commercial Banking (CB) revenues rose 11%, driven by higher net interest income and higher investment banking revenue. The AWM segment revenues improved 4%.
In the CCB segment, average loans were up 2%, and average deposits were up 5%. In the CB segment, average loan balances grew 4% while average client deposits were down 1% year-over-year. In the AWM business, average loan balances increased 12% while average deposit balances dropped 7%.
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