Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — Q1 2019 Earnings Presentation
13 slides from Jp Morgan Chase &'s earnings presentation, Apr 12, 2019
Slide 1: 1Q19 Financial Results
1Q19 Financial Results April 12, 2019
Slide 2: 1Q19 Financial highlights
1Q19 Financial highlights ROTCE1 Common equity Tier 12 Net payout LTM3 19% 12.1% 93% 1Q19 net income of $9.2B and EPS of $2.65 Managed revenue of $29.9B4 Expense of $16.4B and managed overhead ratio of 55%4 Fortress balance sheet Average core loans ex-CIB5,6 up 5% YoY and flat QoQ Basel
Slide 3: 1Q19 Financial results
1Q19 Financial results1 $B, excluding EPS $ O/(U) 1Q19 4Q18 1Q18 Net interest income $14.6 $0.1 $1.1 Noninterest revenue 15.3 3.0 0.2 Managed revenue1 $B 1Q19 4Q18 1Q18 29.9 3.0 1.3 Net charge-offs $1.4 $1.2 $1.3 Expense Reserve build/(release) 0.1 0.3 (0.2) 16.4 0.7 0.3 Credit costs Credit costs $1
Slide 4: Fortress balance sheet and capital
Fortress balance sheet and capital $B, except per share data 1Q19 4Q18 1Q18 Basel III Standardized Fully Phased-In1 CET1 capital $186 $183 $184 1Q19 Advanced CET1 capital ratio of 13.0%1 12.1% 12.0% 11.8% Tier 1 capital $213 $209 $209 Tier 1 capital ratio 13.8% 13.7% 13.5% Total capital $241 $238 $2
Slide 5: Consumer & Community Banking
Consumer & Community Banking1 $mm Financial performance $ O/(U) Net income of $4.0B, up 19% YoY 1Q19 4Q18 1Q18 Revenue of $13.8B, up 9% YoY, driven by higher NII on higher Revenue $13,751 $56 $1,154 deposit and card margins and balance growth Consumer & Business Banking 6,568 1 846 Home Lending
Slide 6: Corporate & Investment Bank
Corporate & Investment Bank1 $mm Financial performance $ O/(U) Net income of $3.3B on revenue of $9.8B 1Q19 4Q18 1Q18 Banking revenue Revenue $9,848 $2,611 ($635) Investment banking revenue 1,745 25 158 IB revenue of $1.7B, up 10% YoY, predominantly reflecting Treasury Services 1,147 (70) 31 h
Slide 7: Commercial Banking
Commercial Banking1 $mm Financial performance $ O/(U) Net income of $1.1B 1Q19 4Q18 1Q18 Revenue of $2.3B, up 8% YoY Revenue $2,338 $32 $172 Middle Market Banking 951 (8) 56 Net interest income of $1.7B, up 4% YoY, driven by higher Corporate Client Banking 816 75 129 deposit margins, partially
Slide 8: Asset & Wealth Management
Asset & Wealth Management1 $mm Financial performance $ O/(U) Net income of $661mm, down 14% YoY 1Q19 4Q18 1Q18 Revenue of $3.5B, flat YoY Revenue $3,489 $50 ($17) Asset Management 1,761 38 (26) Lower management fees, driven by lower average market Wealth Management 1,728 12 9 levels, and lower
Slide 9: Corporate
Corporate1 $mm Financial performance $ O/(U) Revenue 1Q19 4Q18 1Q18 Net revenue of $425mm compared with a net loss of $232mm in Revenue $425 $298 $657 the prior year Expense 211 (297) 124 Credit costs 2 3 6 The increase was driven by higher net interest income on Net income $251 $828 $634 higher
Slide 10: Outlook
Outlook1 Firmwide Expect FY2019 net interest income to be $58B+, market dependent Expect FY2019 adjusted expense of <$66B Expect FY2019 net charge-offs of <$5.5B 1 See notes 1 and 3 on slide 10 9
Slide 11: Notes
Notes 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 resu
Slide 12: Notes
Notes Additional Notes on slide 4 – Consumer & Community Banking 2. Actual numbers for all periods, not over/(under) 3. Firmwide mortgage origination volume was $16.4B, $18.7B and $20.0B for the three months ended March 31, 2019, December 31, 2018 and March 31, 2018, respectively 4. Excludes the imp
Slide 13: 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