Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — Q1 2023 Earnings Presentation
14 slides from Jp Morgan Chase &'s earnings presentation, Apr 14, 2023
Slide 1: 1Q23 Financial Results
1Q23 Financial Results April 14, 2023
Slide 2: 1Q23 Financial highlights
1Q23 Financial highlights ROTCE1 CET1 capital ratios2 Std. RWA3 $1.7T 13.8% | Adv. 13.9% Std. $1.4T 23% Cash and marketable securities4 Total Loss-Absorbing Capacity $488B 2 Average loans $1.1T ⚫ 1Q23 net income of $12.6B and EPS of $4.10 ⚫ Managed revenue of $39.3B5 Income statement – Included net
Slide 3: 1Q23 Financial results
1Q23 Financial results1 $B, EXCEPT PER SHARE DATA $ O/(U) 1Q23 4Q22 1Q22 Net interest income $20.8 $0.5 $6.9 Noninterest revenue 18.5 3.3 0.9 1 Managed revenue $B 1Q23 4Q22 1Q22 39.3 3.8 7.7 Net charge-offs $1.1 $0.9 $0.6 Expense 20.1 1.1 0.9 Reserve build/(release) 1.1 1.4 0.9 Credit costs Credit c
Slide 4: Fortress balance sheet
Fortress balance sheet $B, EXCEPT PER SHARE DATA STANDARDIZED CET1 RATIO (%)1 1Q23 4Q22 1Q22 14 bps 74 bps 3 bps 1 13.8% Risk-based capital metrics (29 bps) (9 bps) CET1 capital $227 $219 $208 13.2% Net share CET1 capital ratio – Standardized 13.8% 13.2% 11.9% repurchases: (12 bps) CET1 capital rati
Slide 5: Consumer & Community Banking
CCB CIB CB AWM Corp. Consumer & Community Banking1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE $ O/(U) ⚫ Net income of $5.2B, up 80% YoY 1Q23 4Q22 1Q22 ⚫ Revenue of $16.5B, up 35% YoY, driven by higher net interest income Revenue $16,456 $663 $4,274 ⚫ Expense of $8.1B, up 5% YoY, larg
Slide 6: Corporate & Investment Bank
CCB CIB CB AWM Corp. Corporate & Investment Bank1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE $ O/(U) ⚫ Net income of $4.4B, up 1% YoY; revenue of $13.6B, flat YoY 1Q23 4Q22 1Q22 ⚫ Banking revenue Revenue $13,600 $3,002 $24 ⚫ IB revenue of $1.6B, down 24% YoY Investment Banking revenu
Slide 7: Commercial Banking
CCB CIB CB AWM Corp. Commercial Banking1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE $ O/(U) ⚫ Net income of $1.3B, up 58% YoY 1Q23 4Q22 1Q22 ⚫ Revenue of $3.5B, up 46% YoY, driven by higher deposit margins, partially offset by lower deposit-related fees Revenue $3,511 $107 $1,113 ⚫ P
Slide 8: Asset & Wealth Management
CCB CIB CB AWM Corp. Asset & Wealth Management1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE ⚫ Net income of $1.4B, up 36% YoY $ O/(U) ⚫ Revenue of $4.8B, up 11% YoY, driven by higher deposit margins 1Q23 4Q22 1Q22 on lower balances and a valuation gain of $339mm on the Firm’s Revenue
Slide 9: Corporate
CCB CIB CB AWM Corp. Corporate1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE ⚫ Revenue was $985mm, up $1.9B YoY $ O/(U) ⚫ Net interest income was $1.7B, compared with a loss of $536mm 1Q23 4Q22 1Q22 in the prior year, due to the impact of higher rates Revenue $985 ($198) $1,866 ⚫ Nonin
Slide 10: Outlook
Outlook1 FIRMWIDE Expect FY2023 net interest income and net interest income excluding Markets of ~$81B, market dependent NII EX. MARKETS SIGNIFICANT SOURCES OF UNCERTAINTY ⚫ Deposit reprice (magnitude and timing) $21B ~$60B ⚫ Consumer behavior and competitive dynamics 1 ⚫ Hard vs. soft landing ⚫ Imp
Slide 11: Notes on non-GAAP financial measures
Notes on non-GAAP financial measures 1. In addition to analyzing the Firm’s results on a reported basis, management reviews Firmwide results, including the overhead ratio, on a “managed” basis; these Firmwide managed basis results are non-GAAP financial measures. The Firm also reviews the results of
Slide 12: Additional notes
Additional notes 1. Reflects the Current Expected Credit Losses ("CECL") capital transition provisions. Beginning January 1, 2022, the $2.9B CECL capital benefit is being phased out at 25% per year over a three-year period. As of March 31, 2023, CET1 capital and Total Loss-Absorbing Capacity reflect
Slide 13: Additional notes on slides 4-6
Additional notes on slides 4-6 Slide 4 – Consumer & Community Banking 3. Actual numbers for all periods, not over/(under) 4. Users of all mobile platforms who have logged in within the past 90 days 5. Excludes Commercial Card 6. Includes the impact of loans originated under the PPP. For further info
Slide 14: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of JPMorgan Chase & Co.’s management and are subject to significant risks an