Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — Investor Day (May 2025)
151 slides from Jp Morgan Chase &'s investor day presentation, May 19, 2025
Slide 1: Investor Day 2025 Firm Overview
► Firm Overview Consumer & Community Banking Asset & Wealth Management Commercial & Investment Bank Investor Day 2025 Firm Overview Exhibit 99.2
Slide 2: Complete Global Diversified At Scale
Complete Global Diversified At Scale We have a proven operating model that is supported by a consistent strategic framework ⚫ Continuously investing in the future while maintaining expense discipline ⚫ Focus on customer experience and innovation ⚫ Employer of choice for top talent from all backgroun
Slide 3: Complete, global, diversified and at scale business mix
C o n s u m e r & C o m m u n it y B an ki ng Asset & Wealth Mgmt. Com m erc ia l & In v e s tm e n t B a n k $118 $173 55 72 49 7014 22 2019 2020 2021 2022 2023 2024 Being complete, global, diversified and at scale enables us to meet clients’ and customers’ needs across the spectrum and through cyc
Slide 4: Leading client and customer centric franchises
We have leading client and customer centric franchises… CCB CIB AWM #1 IB fees4 Markets revenue5 Treasury Services revenue6 Multifamily lender13 Middle Market bookrunner14 U.S. retail deposits1 U.S. credit card issuer11 Primary Business Bank12 #1#1 Rated Private Bank in the World15 Active flows16 10
Slide 5: Strong track record of performance and growth
$86 $16 $19 $22 $23 $27 $30 $34 $39 $41 $45 $48 $51 $54 $56 $61 $66 $72 $73 $97 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 10% compound annual growth rate since 2005 …which has led to strong absolute and relative performance over the last decade TBVPS1 ($) STRONG
Slide 6: Looking ahead: regulatory, economic and geopolitical uncertainty
OngoingImproved? Riskier? Looking ahead, we are well positioned to take advantage of a possibly improved regulatory environment, while navigating more uncertainty than ever on the geopolitical and economic side C u rr en t d ir ec ti o n Regulatory uncertainty Economic environmentGeopolitical risks
Slide 7: 2025 NII ex. Markets outlook of ~$90B
$89 ($3) $1 2024 2025 outlook Balance sheet growth / mix ◼ Card revolve growth and modestly higher deposit balances 47% 53% 45% 42% 41% 30% 29% 28% 26% 24% 4Q21 4Q22 4Q23 4Q24 1Q25 We expect ~$90B in NII ex. Markets for 2025, as balance sheet growth partially offsets lower rates Rates / margins2 ◼ 2
Slide 8: 2025 expense outlook unchanged at ~$95B
Our 2025 expense outlook is unchanged at ~$95B 2025 ADJUSTED EXPENSE1 ($B) $91.1 CIB AWM Corp. CCB ~$95 FDIC SA and Foundation contribution2 For footnoted information, refer to slide 21 38 41 35 38 14 15 2 2 2024 2025 outlook 2025 YOY DRIVERS Volume- and revenue-related Auto lease growth Capital mar
Slide 9: Investing through the cycle while focusing on efficiencies
(0%) (3%) (1%) 9%JPM We continue to invest through the cycle, while simultaneously focusing on extracting efficiencies SHRINKING EXPENSES IS GOOD, BUT GROWING PROFITS IS BETTER BUT AS OUR HEADCOUNT HAS GROWN… …WE SEE OPPORTUNITIES TO DIAL UP OUR FOCUS ON RUNNING A LEAN ORGANIZATION 5-year PPNR CAGR
Slide 10: 2025 firmwide technology expense outlook ~$18B
7 7 8 8 2 21 1 2024 Investments Structural / volumes 2025 outlook ~$0.7 Our 2025 Firmwide technology expense outlook is ~$18B 2025 TECHNOLOGY EXPENSE ($B) 2025 TECHNOLOGY INVESTMENTS ($B) Products, platforms and features By strategy $5.3 $2.7 Total $8.0 By line of business CCB $3.2 CIB $3.7 AWM $1.0
Slide 11: Data & technology investments delivering efficiencies and AI value
Our investments in data & technology are delivering efficiencies and unlocking value from AI Leveraging our modernized data and technology infrastructure Modern data centers Cloud infrastructure Driving at-scale adoption and transformation with GenAI & agents Connecting our data together Software en
Slide 12: Reserves reflect current level of uncertainty
Our reserves reflect the current level of uncertainty For footnoted information, refer to slide 21 Illustrative reserve build: < $3B Sensitive to the path of key MEVs and our evaluation of scenario weights Scenario MODERATE RECESSION SCENARIO UER peaks at 6.5% by 2Q26 Fed cuts rates to 2% by 3Q26 Pe
Slide 13: Tariff impact on wholesale C&I portfolio
Smaller revenue clients are more vulnerable to margin compression Reserve impact will depend on the level of pass-through of costs to consumers The impact from tariffs to our wholesale C&I portfolio will depend on industry and company-specific dynamics, as well as how much of the cost can be passed
Slide 14: Excess capital positions us to protect and grow the franchise
Given our current level of excess capital, we are well positioned to protect and grow the franchise under a range of circumstances $219 $251 $276 $280 21 60 59 57 4Q22 4Q23 4Q24 1Q25 Regulatory requirement, incl. reg. buffers Excess Reported CET1 STANDARDIZED CET11 EXCESS ($B) $132B $162B $173B 2022
Slide 15: Holistic review of capital and liquidity regulation needed
Resolvability Discount window usage Systemic risk …AND SHOULD THOUGHTFULLY INTEGRATE THE FOLLOWING FEATURES… Simple backstops We still believe a holistic review of the capital and liquidity regulatory frameworks is needed THE OPTIMAL REGULATORY FRAMEWORK SHOULD BE… Risk Sensitivity Backstop Measures
Slide 16: Strong returns across a range of macroeconomic conditions
2024 Medium-term We are positioned to deliver strong returns across a range of macroeconomic conditions… …and continue to support our 17% through the cycle target For footnoted information, refer to slide 22 17% through the cycle target 20% 22% Interest rates and deposit pricing Credit costs Global
Slide 17: 17% ROTCE is an outcome, not a constraint
0% 5% 10% 15% 20% 25% 30% Maximizing long term shareholder value is our priority, and 17% ROTCE is an outcome, not a constraint 17% target ROE (%) A range of our sub-lines of business Indicative cost of equity 17% IS AN EXCEPTIONAL ROTCE1 JPM 13% 13% 12% 17% 19% 19% 19% 18% 21% 22% BAC C WFC COF MS
Slide 18: Committed to serving clients with the full breadth of our offering
We remain committed to serving our clients and customers with the full breadth of our offering, while producing strong returns Promotes stronger and deeper relationships with customers Allows us to serve more clients everywhere Supports more stable earnings in any operating environment Offsets margi
Slide 19: 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 20: Notes on slide
Notes on slide 2 Slide 2 – Being complete, global, diversified and at scale enables us to meet clients’ and customers’ needs across the spectrum and through cycles 1. Totals may not sum due to rounding. See note 1 on slide 18 2. In the first quarter of 2023, the allocations of revenue and expense to
Slide 21: Notes on slide
Notes on slide 3 Slide 3 – We have leading client and customer centric franchises… 1. Federal Deposit Insurance Corporation (FDIC) Summary of Deposits survey per S&P Global Market Intelligence applies a $1B deposit cap to Chase and industry branches for market share. While many of our branches have
Slide 22: Notes on slides 4-12
Notes on slides 4-12 Slide 4 – …which has led to strong absolute and relative performance over the last decade 1. See note 3 on slide 18 2. Peers include Bank of America, Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo 3. See note 5 on slide 18 4. See note 1 on slide 18 5. See note 4 on sli
Slide 23: Notes on slides 13-16
Notes on slides 13-16 Slide 13 – Given our current level of excess capital, we are well positioned to protect and grow the franchise under a range of circumstances 1. Totals may not sum due to rounding. As of January 1, 2025, the benefit from the Current Expected Credit Losses (“CECL”) capital trans
Slide 24: Consumer & Community Banking
Investor Day | 2025 Consumer & -«« Community Banking JPMorganChase
Slide 25: Consumer & Community Banking Overview
Investor Day | 2025 Consumer & Community Banking Overview Firm Overview W Consumer & Community Banking Overview Financial Performance Strategic Growth Plans Asset & Wealth Management Commercial & Investment Bank JPMorganChase
Slide 26: CCB operates from a position of strength
CCB operates from a position of strength Complete National Diversified At Scale #1 market position in Consumer and Business Banking & Card1 Support for customers in life’s key moments in Home Lending & Auto Continuing to grow in Connected Commerce & Wealth Management2 Strong through-the-cycle return
Slide 27: Increased strategic momentum over the last years
Increased strategic momentum over the last 5 years 3% CAGR Total Customers1 (91mm, +3% YoY) 7% CAGR Multi-LOB Customers2 (26mm, +7% YoY) 6% CAGR Digital Active Customers3 (71mm, +6% YoY) 2% CAGR Branch Active Customers4 (41mm, +4% YoY) Record high Net Promoter Score5 (~65, +5pts) Record high Branch
Slide 28: CCB Financial Performance
Investor Day | 2025 Consumer & Community Banking Financial Performance Firm Overview Consumer & Community Banking Overview Financial Performance Strategic Growth Plans Asset & Wealth Management Commercial & Investment Bank JPMorganChase
Slide 29: Best-in-class financial performance
Best-in-class financial performance ⚫ Deposit balances stabilized since coming off their peak ⚫ Through-the-cycle deposit margins expected ~2.5% ⚫ Sustained discipline in managing risk, capital and liquidity ⚫ Card loan growth expected to continue ⚫ Major investments across field/branch, marketing,
Slide 30: Organic growth driving revenue
$37.3 $54.9 $17.6 $16.6 $10.9 $5.2 $1.4 ($1.0) $55.0 $71.5 2019 Deposit NII Card NII Other NII NIR 2024 Organic growth driving revenue CCB REVENUE ($B): 2019-20241 NIR NII Deposit NII Card NII NIRLending NII2 ▲ Deposit Balances (9% CAGR): +$9.1B ▲ Deposit Margin (+18bps): +$1.9B ▲ Card OS (6% CAGR)
Slide 31: Revenue diversification is a source of strength
$55.0 $54.9 $15.1 $16.6 $2.4 $1.0 $1.5 ($3.7)$70.1 $71.5 2023 Deposit NII Card NII Other NII NIR 2024 Revenue diversification is a source of strength NIR NII Deposit NII Card NII NIR Lending NII1 ▲ Wealth Management ▲ Card ▲ Connected Commerce ▲ Home Lending Card Annual Fees Wealth Management & Conn
Slide 32: Consumers and small businesses remain financially healthy
QUESTIONS WE’RE HEARING… …WHAT WE’RE OBSERVING SELECT DATA POINTS Is the labor market weakening? The labor market has moderated from a strong position in recent years, but remains resilient ~Flat Consumers with payroll disruption YTD vs. 20241 ⚫ Layoffs remain low ⚫ Finding and hiring staff remains
Slide 33: We prepare for a range of macroeconomic outcomes
We prepare for a range of macroeconomic outcomes “Soft Landing” “Mild Recession” “Moderate Recession” “Deep Recession” Scenario Non-recessionary soft landing with de-escalation in trade tensions Shallow, early recession driven by tariffs and economic uncertainty Moderate, immediate recession driven
Slide 34: Primary banking relationships drive deposit balance increases
$697 $908 $1,094 $1,126 $1,078 $1,035 4Q19 4Q20 4Q21 4Q22 4Q23 4Q24 4Q25 4Q26 4Q27 Primary banking relationships drive deposit balance increases BANKING & WEALTH MANAGEMENT AVERAGE DEPOSITS ($B) Scenarios Deep RecessionSoft Landing Mild Recession Moderate Recession Checking Savings CDs ~+6 to 10% ~+
Slide 35: Recent rates and outlook support deposit margin
0% 1% 2% 3% 4% 2024 2025 2026 2027 1.90% 2.43% 1.52% 2.75% 0% 1% 2% 3% 4% 5% 6% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Recent rates and outlook provide structural support for deposit margin BANKING & WEALTH MANAGEMENT DEPOSIT MARGIN TRENDS Scenarios Deep RecessionSoft Landing Mild Recessi
Slide 36: Highly engaged customers drive card balances
Highly engaged customers drive card balances 117 145 2023 Vintage 2022 Vintage $156 $214 2019 Pre-'22 vintages New account seasoning 2024 2025 2026 2027 6% CAGR 2022 vintage 2023 vintage 2024 vintage AVERAGE CARD OUTSTANDINGS ($B) SCENARIOS ON CARD OUTSTANDINGS – ESTIMATED Scenarios Deep RecessionSo
Slide 37: Credit card metrics are healthy
Credit card metrics are healthy 2019 2024 ∆ Portfolio % of portfolio <660 credit score1 16% 14% (2ppts) % of OS from balance parker segment2 9% 5% (4ppts) Originations Industry: % of originations <660 credit score3 10% 8% (2ppts) Chase: % of originations <660 credit score 3% 3% - Mar 2009 Mar 2019 M
Slide 38: Card stress analysis
Card stress analysis Macroeconomic scenario Unemployment Peak Annualized Losses Incremental Losses ($B) Soft Landing 4.4% ~3.6% ~($1.0) Central Case 4.8% ~3.9% – Mild Recession 5.3% ~4.3% ~+$1.0 Current 1Q25 reserve 5.8% – – Moderate Recession 6.5% ~5.4% ~+$3.5 Deep Recession1 7.2% ~5.7% ~+$4.0 For
Slide 39: Strong credit metrics across lending businesses
Strong credit metrics across lending businesses 2019 2024 ∆ Auto1 % of portfolio <660 credit score2 18% 16% (2ppts) % of portfolio <660 credit score and LTV >1203 2.1% 1.1% (1ppt) Home Lending4,5 Owned-portfolio avg. credit score6 758 774 16pts Owned-portfolio avg. CLTV 55% 47% (8ppts) Business Bank
Slide 40: Expense growth is moderating
$8.9 ~$9.5 $1.7 ~$2.5 DRIVERS OF ADJUSTED EXPENSE1,2 ($B) Expense growth is moderating Investment 2019 6% Ex. Auto leases $0.5 All-in Auto lease depreciation $23.9 $0.7 $0.5 $0.2 $0.9 2024 Field & branch network Marketing Technology & product Operations & fraud losses 2025 Outlook $36.3 ~$38.5 Other
Slide 41: Field & Branch: organic growth and productivity gains
2019 2024 2025O Field & Branch: Driving organic growth and productivity gains FIELD AND BRANCH NETWORK EXPENSE ($B) KEY PERFORMANCE METRICS 5% Checking accounts 4% Field headcount6 ~Flat Total branch count <4 yr Break-even on branch, banker & advisor investments +60% SMBs covered per Business Relati
Slide 42: Marketing: strong results and customer engagement
2019 2024 2025O Marketing: Consistently driving strong results and customer engagement ~$10.3 $8.8 +85% Increase in the total value of acquisitions5 (2ppts) Reduction in voluntary attrition on fee-based cards +14ppts Top of wallet share for branded card benefit users4 >2 Return on investment of 2024
Slide 43: Technology & Product: spend is moderating
$4.5 $8.5 ~$9 2.3 4.1 4.2 0.5 1.4 1.2 1.1 1.5 2.0 0.6 1.5 1.7 2019 2024 2025O >2 Return on investment with <5 year payback3 >30% Reduction in critical tech incidents ✓ Data center migration & data in cloud Technology & Product: Spend is moderating and delivering strong returns TECHNOLOGY & PRODUCT E
Slide 44: Operations: realizing productivity gains
2019 2024 2025O Operations: Realizing productivity gains OPERATIONS EXPENSE ($B) KEY PERFORMANCE METRICS 5% Total Accounts 7% Transactions 12% Fraud attack rate ~Flat~Flat ~Flat 3% 7%11% >25% Accounts serviced per Operations headcount 2019 2024 +5 years ~15% productivity vs. 2019 >40% productivity v
Slide 45: Data and modernization fueling value from AI / ML
The scale of our data and our modernization strategy is fueling increasing value from AI / ML …WHILE REALIZING VALUE FROM AI AND PERSONALIZATION >91mm Customers Financial ~41mm credit profiles Interactions ~373B digital interactions Transactions ~27B credit & debit transactions Travel ~11mm trips bo
Slide 46: Disciplined approach to outperform through the cycle
Disciplined approach to enable outperformance through-the-cycle Macroeconomic Consumers & small businesses remain financially healthy External measures of sentiment have deteriorated quickly Regulatory Favorable developments on national level Significant uncertainty remains at both national and stat
Slide 47: CCB Strategic Growth Plans
Investor Day | 2025 Consumer & Community Banking Strategic Growth Plans Firm Overview W Consumer & Community Banking Overview Financial Performance Strategic Growth Plans Asset & Wealth Management Commercial & Investment Bank JPMorganChase
Slide 48: CCB is a growth franchise
21% / 9% CCB is a growth franchise Strategic focus Line of business Long-term ambition Current position 5 year progress Deliver exceptional experiences across the franchise Across CCB ~70 Net promoter score1 ~65 Extend our #1 positions across industry-leading businesses Consumer & Business Banking 1
Slide 49: Continuously improving customer experiences
We’re continuously improving customer experiences across channels, products and experiences Record High Record High ~8 points CSAT increase since 20192 Digital Branch ~6 points CSAT increase since 20192 Product Innovation New-to-credit Payment flexibility >90 NPS Chase Pay in 4 in 2024 >80 NPS Freed
Slide 50: Deposit and small business primary share gains
Deposit and small business primary share gains outpace the competition Banking Card Connected Commerce Wealth Management Peer 2 Peer 1 +220bps (50bps) (110bps) 2019 2024 2019 2024 7% CAGR 12% CAGR AVERAGE DEPOSITS ($B) Business Banking Consumer Banking MARKET PERFORMANCE Home Lending Auto $742$535 $
Slide 51: Share gains across our branch footprint
7.9% 9.1% 11.3% 15% 2014 2019 FRC New Builds Mature footprint 2024 <5% 5-15% 15%+ Target +220bps Share gains reflect strong performance across our branch footprint KEY STATISTICS BY MARKET SHARE 2014 2019 FRC 2024 Ambition Making progress towards our long-term ambition of 15% national retail deposit
Slide 52: Gained share in ~95% of top markets
We gained share in ~95% of the top 125 markets that we have a presence in, including all top 25 Card Connected Commerce Wealth Management Home Lending AutoBanking Younger branches are expected to contribute >$160B in incremental deposits once mature3 Delivering strong capture in lower density legacy
Slide 53: Product and segment strategies underpin customer growth
Product and segment strategies underpin customer growth and deepening Card Wealth Management Home Lending AutoBanking Connected Commerce % Emerging Core Affluent Introduced J.P. Morgan Private Client as a new tier in our affluent product continuum Scaling Secure Banking, a product geared towards you
Slide 54: Gaining Card market share
Gaining Card market share in a highly competitive market KEY DRIVERS MARKET PERFORMANCE 11.4% 11.9% 11.9% 22.4% 22.9% 23.5% 21.2% 20.4% 20.4% 2019 2020 2021 2022 2023 2024 Peer 1 Peer 2 10.1% 10.3% 10.2% 16.4% 16.7% 17.3% 8.8% 9.8% 10.2% 2019 2020 2021 2022 2023 2024 Peer 2 Peer 1 Banking Card Conne
Slide 55: Path to 20% share of card outstandings
15.2% 16.4% 17.3% 20.0% 2014 2019 Drivers 2024 Drivers Target ~25% Focus on key segments and unlocking the power of data and distribution to fuel growth Banking Card Connected Commerce Wealth Management Home Lending Auto Making progress towards our long-term ambition to reach 20% share of outstandin
Slide 56: Building on strength across card segments
Fueled by building on our strength across card segments… Banking Card Connected Commerce Wealth Management Home Lending Auto Sapphire Preferred named the best Travel Rewards card in 2024 by The Points Guy Expanded our award-winning lounge network, opening five new Sapphire airport lounges, including
Slide 57: Strong new account production
…and strong new account production to drive sustained growth OS volume ($B) by vintages2 Banking Card Connected Commerce Wealth Management 2024 Home Lending Auto Size of 2019-2021 vintages impacted by COVID-driven reductions in customer demand and risk pullbacks 2023 2022 2021 2019 2020 …DRIVING STR
Slide 58: Scaling Connected Commerce platforms
Scaling Connected Commerce platforms Long-term ambition of 10% share of our customers’ addressable spend4 Banking Card Connected Commerce Wealth Management Home Lending Auto WE ARE CONTINUING OUR STEEP GROWTH TRAJECTORY1… …ENABLING US TO CAPTURE MORE OF OUR CUSTOMERS’ SPEND $12.2 2021 2024 29% CAGR
Slide 59: Investments in proprietary assets and platform engagement
Fueled by investments in proprietary assets and engagement across our platforms… Banking Card Connected Commerce Wealth Management Home Lending Auto Customers booking travel (24% CAGR vs. 2021)4.2mm Increased share of Branded card travel spend on our platform to ~11%, up 200bps since 20213 Scaled Th
Slide 60: Payments, trust and security as competitive advantage
Making payments, trust and security a competitive advantage Banking Card Connected Commerce Wealth Management Home Lending Auto Credit Debit Zelle Digital payments & wires Cash & checks Paze 26% YoY reduction in Zelle fraud and scam claim rates, driven by continued investment in customer education,
Slide 61: Doubling Wealth Management business again
We have doubled our Wealth Management business and have plans to double it again Banking Card Connected Commerce Wealth Management Home Lending Auto We have set a new long-term ambition to double client investment assets again to $2T ~$1,100 2019 2024 >2x Wealth Management client investment assets (
Slide 62: Integrated model and focus on largest opportunities
Fueled by the strength of our integrated model and focus on our largest opportunities… Banking Card Connected Commerce Wealth Management Home Lending Auto ~55% share of investment wallet for clients with full-service advised relationships3 Opened 15 J.P. Morgan Financial Centers to deliver an elevat
Slide 63: Advisor hiring and productivity gains
…and enabled by advisor hiring and productivity gains New advisors hired over the last 5 years will contribute $180B in investment assets by 2030 Banking Card Connected Commerce Wealth Management 6 mo. 9 mo. 12 mo. 15 mo. 18 mo. 21 mo. 24 mo. 27 mo. 30 mo. 33 mo. 36 mo. Flows per advisor by cohort1
Slide 64: Progress in Home Lending despite macro headwinds
Mortgage market is 35% smaller than 201910 Making progress in Home Lending despite severe macro headwinds Banking Card Connected Commerce Wealth Management Home Lending Auto Given investments and enhancements to our business, we expect to achieve 15% ROE through a normal cycle WE ARE FOCUSING ON WHA
Slide 65: Chase Auto path to continued growth
+31% Chase Auto has a path to continued growth Banking Card Connected Commerce Wealth Management Home Lending Auto While tariffs create uncertainty, lease & vintage mix normalization provides a medium-term path to reach our 17% ROE TTC target Consumers Dealers Manufacturers ~4mm consumers ~12K deale
Slide 66: CCB is a growth franchise
21% / 9% CCB is a growth franchise Strategic focus Line of business Long-term ambition Current position 5 year progress Deliver exceptional experiences across the franchise Across CCB ~70 Net promoter score1 ~65 Extend our #1 positions across industry-leading businesses Consumer & Business Banking 1
Slide 67: Closing thoughts: 25%+ ROE through-the-cycle
We remain committed to 25%+ ROE through-the-cycle #1 Retail deposit share1 #1 Primary bank for SMBs2 #1 Retail deposits in 4 of the top 5 markets1 CONSUMER & BUSINESS BANKING #1 Card sales share3 #1 Card OS share3,4 #3 Leisure travel provider5 CARD AND CONNECTED COMMERCE #1 Wealth provider for Chase
Slide 68: Community Center (BedStuy)Sapphire Lounge (Philadelphia) J.P. Morgan Financial Center (Columbus Circle)Community Cent…
Community Center (BedStuy)Sapphire Lounge (Philadelphia) J.P. Morgan Financial Center (Columbus Circle)Community Center (BedStuy)
Slide 69: Notes on non-GAAP financial measures
1. Adjusted expense excludes CCB legal expense and is a non-GAAP financial measure. For 2019, reported noninterest expense was $28,058 million and legal losses were $70 million; for 2024, reported noninterest expense was $38,036 million and legal losses were $98 million. Management believes this inf
Slide 70: CCB operates from a position of strength notes
Slide 3 – CCB operates from a position of strength 1. Consumer footnote: Federal Deposit Insurance Corporation (FDIC) Summary of Deposits survey per S&P Global Market Intelligence applies a $1 billion deposit cap to Chase and industry branches for market share. While many of our branches have more t
Slide 71: Increased strategic momentum notes
Slide 4 – Increased strategic momentum over the last 5 years 1. Please refer to slide 3 footnote #6 2. Refers to consumers and small businesses with two or more relationships within the following sub-LOBs: Consumer Banking, Business Banking, J.P. Morgan Wealth Management, Card Services, Home Lending
Slide 72: Organic growth driving revenue notes
Slide 7 – Organic growth driving revenue 1. Prior period numbers have been revised to conform to current period presentation 2. Includes NII related to Home Lending, Auto, BWM loans and capital resource allocations Slide 8 – Revenue diversification is a source of strength 1. Includes NII related to
Slide 73: Deposit margin notes
Slide 12 – Recent rates and outlook provide structural support for deposit margin 1. Represents the simple average of deposit margin across the associated years 2. Represents year-end exit rate for Fed Funds Upper Bound and 10 Year Treasury Slide 13 – Highly engaged customers drive card balances 1.
Slide 74: Credit metrics notes
Slide 16 – Strong credit metrics across lending businesses 1. Chase Auto excludes Wholesale (Dealer Commercial Services) & Lease 2. Calculated using refreshed VantageScoreTM sourced from Experian 3. Represents FICO scores and LTV at time of origination 4. Includes AWM and Corporate mortgage loans 5.
Slide 75: Marketing notes
Slide 19 – Marketing: Consistently driving strong results and customer engagement 1. Gross marketing represents CCB marketing spend in a calendar year; Net marketing represents Gross Marketing adjusted predominantly for deferred credit card origination costs which are recognized as a reduction of re
Slide 76: CCB is a growth franchise notes
Slide 25 – CCB is a growth franchise 1. Net Promoter Score (NPS) is an indicator of customer satisfaction; represents Net Promoter Score gains over the last 5 years 2. Federal Deposit Insurance Corporation (FDIC) 2024 Summary of Deposits survey per S&P Global Market Intelligence applies a $1B deposi
Slide 77: Share gains notes
Slide 28 – Share gains reflect strong performance across our branch footprint 1. Please refer to slide 25 footnote #2 2. Mature footprint excludes new builds (branches built between 2009 and 2024) 3. Markets within each deposit share tier are assigned based on 2024 deposit share 4. Represents intern
Slide 78: Product and segment strategies notes
Slide 30 – Product and segment strategies underpin customer growth and deepening 1. Consumer Banking customers’ reflect unique individuals that have financial ownership or decision-making power with respect to Consumer Banking accounts; excludes customers under the age of 18 2. Primary bank checking
Slide 79: Card segments notes
Slide 33 – Fueled by building on our strength across card segments… 1. Defined as average sales debit active accounts 2. % of monthly active customers who have >= 10 transactions or >= $833 per month ($10K in annualized) spend; annual rate calculated as an average across all months 3. Account retent
Slide 80: Proprietary assets notes
Slide 36 – Fueled by investments in proprietary assets and engagement across our platforms… 1. 2025 report from Skift research; note: ranking based on Travel Weekly Power List results, Skift Research and estimates 2. Includes volume from Chase Offers, Chase Media Solutions, Shop Through Chase and Ul
Slide 81: Integrated model notes
Slide 39 – Fueled by the strength of our integrated model and focus on our largest opportunities… 1. A household is a collection of individuals or entities aggregated together by name, address, tax identifier, and phone number 2. #1 outflow destination for Chase Consumer and Business deposit clients
Slide 82: Home Lending notes
Slide 41 – Making progress in Home Lending despite severe macro headwinds 1. Full year 2024 ranking as per Inside Mortgage Finance, Copyright 2025; #1 rank is based on $47B total originations which includes Private Bank 2. Excludes Private Bank originations 3. 4Q 2024 ranking as per Inside Mortgage
Slide 83: CCB growth franchise and closing notes
Slide 43 – CCB is a growth franchise See notes on slide 25 Slide 44 – Closing thoughts 1. Please refer to slide 25 footnote #2 2. Barlow Research Associates, Primary Bank Market Share Database as of 4Q24. Rolling eight quarter average of small businesses with revenue of more than $100,000 and less t
Slide 84: Asset & Wealth Management
Investor Day | 2025 Asset & — Wealth Management Consumer & Community Banking D Asset & Wealth Management Commercial & Investment Bank JPMorganChase
Slide 85: Asset & Wealth Management overview
Asset & Wealth Management overview ⚫ Fiduciary responsibility: Dedicated to generating alpha for individuals, corporations, sovereigns and central banks for two centuries ⚫ Broad, diversified platform: $6T AUS split roughly equally between AM and GPB, spanning every asset class, channel and region ⚫
Slide 86: AWM delivers solutions to a broad spectrum of clients
Asset & Wealth Management delivers high-quality solutions to a broad spectrum of clients COMPLETE GLOBAL DIVERSIFIED AT SCALE INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS SUPPORTED BY EXCEPTIONAL TALENT AND A COLLABORATIVE, WINNING CULTURE AUS split roughly equally (AM and GPB)
Slide 87: Strong, consistent outcomes in 2024
STRONG, CONSISTENT OUTCOMES IN 2024 Pretax Income2 ($B)Assets Under Supervision2 ($T) Revenue2 ($B) Global Private BankAsset Management 2014 2019 2024 $3.4 $3.8 $7.2+2% +14% 2014 2019 2024 $2.3 $3.1 $5.9+6% +14% INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS CAGR A growth franchi
Slide 88: Significant opportunity for long-term growth
...with a significant opportunity for long-term growth INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS 2019 2024 $3.1 $5.9 Client assets ($T) JPM AUS market share2 Global Private Bank1 Asset Management 9% 4% Active asset management industry revenue3 ($B) 2019 2024 $378 $495 9% Tot
Slide 89: Robust investment agenda in AWM
We have a robust investment agenda in AWM KEY INVESTMENT AREAS INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS TOTAL EXPENSE / INVESTMENT ($B)1 5.0 Investment $9.7 $14.0 -$0.2 $0.2 $0.2 $0.3 $0.2 $0.2 $15.0 Volume- and revenue- related Run-the-bank 2025 outlook 2.7 5.7 6.5 OtherTe
Slide 90: Investing in Active Management
Investing in Active Management INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS For footnoted information, refer to slide 18 3 ONE-TRILLION-DOLLAR FRANCHISES EQUITIES: $1 trillion AUM Three largest cat.2 Cat. AUM 1st Q-tile JPM Fund Large Growth $1.8T ✓ Large Blend $1.5T ✓ Large Va
Slide 91: Investing in Active Management vehicles: ETFs
INDUSTRY LEADERSHIP Investing in Active Management vehicles: ETFs INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS NAMR Equities Fixed Income JPM active ETFs (#) 2017 2024 2025 +14x 2024 2029 $1 $5 +34% Active MF Industry AUM1 ($T) EMEA APAC 2024 % of 3Y JPM long-term active ETF AU
Slide 92: Investing in Alternatives
Investing in Alternatives INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS For footnoted information, refer to slide 19 INDUSTRY-LEADING DISTRIBUTION GPB AUS, 2024 ($T) Top alts managers, 2024 gross assets9 ($B) Alts Total $2.9 Global Funds AUM, 2024 ($T) Alts Total $1.2 Invest. +
Slide 93: Investing in Workplace
Investing in Workplace INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS Ireland 200K+ addressable participants globally 71K participants already using JPMC products & services 580+ equity administration leads from bankers 2022 2023 2024 1Q25 $181 $230 $270 $281 +55% 913 974 1,327 1
Slide 94: Investing in Global Private Bank advisors
TALENT TRAINING Investing in Global Private Bank advisors INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS Gross hires, U.S. Private Bank advisors1 Top U.S. Private Bank advisors volunteering to train new advisors in Hong Kong 2019 2024 +1.7x 2019 2024 +3.4x Median 3rd Yr. Associat
Slide 95: Investing in Personalization
F ix e d Income . Equities . Alternatives . Liq u id it y Ta x Management . Passions . Goals DELIVERING CUSTOMIZED SOLUTIONS Investing in Personalization For footnoted information, refer to slide 19 INDUSTRY-LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS Top 3 SMA provider2 $380B+ managed
Slide 96: Investing in Technology and AI
● Automated coding ● Automated alert management ● Restriction analysis ● Advanced data query Investing in Technology and AI Guidelines Remove “no joy” work Drive productivity Increase revenue NEW this year Proactive and anticipatory client adviceEnable quicker decision-making Build for reuse “We’ve
Slide 97: Bringing the power of JPMC to clients and shareholders
EXAMPLE OF BRINGING THE POWER OF JPMC TO OUR CLIENTS AND SHAREHOLDERS INDUSTRY LEADING FRANCHISE INVESTING FOR GROWTH DELIVERING RESULTS Elevating impact through connectivity and collaboration across JPMC #1 in Deposits & for Small Businesses #1 Commercial & Investment Bank3 #1 Private Bank1 and Ass
Slide 98: AWM revenue drivers and diversified revenue
Mortgage Mortgage Deposit Lending Lending Perf. fees Mortgage Deposit Lending Perf. fees Lending Deposit Perf. fees Deposit Brokerage Brokerage Perf. fees Mortgage Deposit Brokerage Mgmt. fees Lending Brokerage Mgmt. fees Mgmt. fees Lending Lending Lending Brokerage Mgmt. fees Brokerage Mgmt. fees M
Slide 99: AWM: best of both banking and asset management
0% 5% 10% 15% 20% 25% 30% 35% 40% ($100) $0 $100 $200 $300 $400 $500 $600 $700 Peer #9 Peer #10 Return On Equity Peer #11Peer #12 J.P. Morgan Asset & Wealth Management Peer #1 Peer #2 Peer #3 Peer #4 Peer #5 Flows ($B) Peer #7 Peer #8 Peer #6 AWM: The best of both banking and asset management INDUST
Slide 100: Meeting medium-term targets
Meeting targets Results range1 Medium-term targets 5% 25%+25%+4% ✓ 8% 2021 2% 2022 ✓ 5% 2020 ✓ 19% 2021 ✓ 5% 2022 ✓ 5% 2020 ✓ 37% 2021 ✓ 33% 2022 ✓ 28% 2020 ✓ 33% 2021 ✓ 25% 2022 ✓ 28% 2020 ✓ 7% 2023 ✓ 12% 2023 ✓ 35% 2023 ✓ 31% 2023 ✓ 9% 2024 ✓ 9% 2024 ✓ 34% 2024 ✓ 34% 2024 Medium-term targets REV
Slide 101: Notes on slides 1-4
Notes on slides 1-4 Slide 1 – Asset & Wealth Management overview 1. Percentage of active mutual fund and active exchange-traded funds (ETF) assets under management (AUM) in funds ranked in the 1st or 2nd quartile: All quartile rankings, the assigned peer categories and the asset values used to deriv
Slide 102: Notes on slides 5-7
Notes on slides 5-7 Slide 5 – We have a robust investment agenda in AWM 1. Adjusted expense is a non-GAAP financial measure, which represents noninterest expense excl. legal expense of $1mm, $379mm and $137mm for the full year 2019, 2024 and for the three months ended in March 31, 2025, respectively
Slide 103: Notes on slides 8-13
Notes on slides 8-13 Slide 8 – Investing in Alternatives 1. Source: NFI-ODCE as of March 31, 2025. 2. Source: PE outperformance represents direct alpha vs. MSCI World index, as of September 30, 2024. HF outperformance vs. HFRI FOF Conservative Index as of April 30, 2025. Multi-alts outperformance vs
Slide 104: Notes on slides 14-16
Notes on slides 14-16 Slide 14 – Diversified revenue and flows 1. In the fourth quarter of 2020, the Firm realigned certain Wealth Management clients from Asset & Wealth Management to Consumer & Community Banking. Prior-period amounts have been revised to conform with the current presentation. Histo
Slide 105: Commercial & Investment Bank
Investor Day | 2025 Commercial & —— Investment Bank Consumer & Community Banking Asset & Wealth Management > Commercial & Investment Bank JPMorganChase
Slide 106: Commercial & Investment Bank Overview
Investor Day | 2025 Commercial & Investment Bank Overview Firm Overview Consumer & Community Banking Asset & Wealth Management 'V Commercial & Investment Bank Overview Payments Deep Dive Closing Remarks JPMorganChase
Slide 107: Topics of discussion
Overview of the Commercial & Investment Bank (CIB) Updates: Securities Services, Markets, Global Banking Deep dive: Payments Closing remarks and outlook Q&A Topics of discussion 1
Slide 108: Combined CIB is built around our clients
The combined Commercial & Investment Bank is built around our clients Commercial & Investment Bank Global Banking Commercial Banking, Corporate Banking, Investment Banking Markets FICC, Equities, Research Payments Securities Services Custody, Fund Services, Trading Services, Data Solutions Middle Ma
Slide 109: Franchise strength is a key differentiator
EXCEPTIONAL TALENT & CULTURE Our franchise strength is a key differentiator and provides unmatched value 60+ countries with on-the- ground presence 74 of top 75 MSAs with dedicated team 120+ currencies settled ~70% of revenue in NIR, across different fees ~40% of revenue generated internationally ~1
Slide 110: Key strategic priorities through the cycle
We remain focused on executing key strategic priorities through the cycle Driving client acquisition in high-potential markets and deepening relationships, through strategic client segmentation and tailored offerings EXPAND AND DEEPEN OUR CLIENT FRANCHISE Empowering our teams to serve clients in a h
Slide 111: Delivering sustainable growth with strong returns
Delivering sustainable growth with strong returns Adjusted net income ($B)1 Adjusted ROE (%)1 $102 $102 $107 $128 $138Capital ($B) Revenue ($B) 15% 19% 24% 14% 15% $132 18% 5Y CAGR2 Revenue +8% Adj. net income1 +9% Capital +5% 16% Medium-term ROE outlook3 2019 2020 2021 2022 2023 2024 Securities
Slide 112: Investing while maintaining expense discipline
Investing in our franchise while maintaining strong expense discipline CIB ADJUSTED EXPENSE ($B)1 2019 2024 2025 outlook Run the bank Investments Volume- and revenue-related $26.0 $35.1 ~$38.0 ~7% YoY ~50% Overhead ratio in 2024 6 Volume- and revenue-related Performance-driven compensation Broke
Slide 113: Investments focused on delivering value
Our investments are focused on delivering value 2019 2024 2025 outlook Reg., Risk & Controls Infrastructure Modernization Products, Platforms & Experiences $2.3 $3.5 $3.7 $0.2 $0.3 $0.3 $0.5 $1.0 $0.9 $1.6 $2.2 $2.5 Emerging Middle Market revenue growth 1.6x Innovation Economy revenue growth 4.0x Ne
Slide 114: Multi-faceted growth agenda powered by connected businesses
Executing a multi-faceted growth agenda powered by our connected businesses PARTNERSHIP AND ALIGNMENT UNLOCK VALUE… …AND POSITION US TO CAPTURE SIGNIFICANT MARKET OPPORTUNITIES Continuous collaboration with our AWM and CCB partners LARGE AND GROWING ADDRESSABLE MARKETS POWERFUL TAILWINDS ~$1.7T Priv
Slide 115: Securities Services business overview
Securities Services is the strategic partner for the world’s largest institutional investors BUSINESS OVERVIEW Custody Servicing of listed assets in 100 markets globally Traditional Fund Services Accounting across the full range of funds and instruments Trading Services Lending and collateral soluti
Slide 116: Securities Services financial performance
We have strong financial performance driven by our scale FINANCIAL PERFORMANCE 2019 2024 NII Fees ▲ 2.8% ▲ 6.2% $5.1 $4.1 10.2%Market share3 10.7% ▲ 5.7% ▲ 5.6% $155B $204B $27T $35T Average deposits AUC #3 #3Rank3 Avg. operating margin through the cycle M at ur e G ro w th Global Custody Cost per t
Slide 117: Securities Services strategic focus areas
Our strategic focus areas will drive further growth KEY FOCUS AREASFACTORS IMPACTING THE BUSINESS Grow with long-term clients by providing exceptional service Continue to scale our operating model to process higher volumes at a lower cost Improve productivity though automation and investments in AI/
Slide 118: Top Markets franchise
We are the top Markets franchise, rooted in client-centricity and sound risk discipline …enable us to meet clients’ needs across the trade lifecycle ranked1 research organization, and 90K+2 users active monthly on J.P. Morgan Markets #1Research in 11 of 13 Markets sub-products3Top-2Trading increase
Slide 119: Markets: further opportunities remain
Despite our industry-leading position, further opportunities remain CLIENT WALLET AND MARKET SHARE Corporate wallet 2019 2024 SoW change (2019-2024) FICC EQUITIES $6.3 $14.7 2019 $9.9 $20.1 2024 $21.0 $30.0 Equities FICC 11.4%Market share2 11.4% #1 #1Rank2 PRODUCT REVENUE1 AND MARKET SHARE2 ▲ 6.4% ▲
Slide 120: Markets strategic priorities
Our strategic priorities position us for future growth FACTORS IMPACTING THE BUSINESS Evolving capital and liquidity conditions Growing prominence of nonbanking institutions and platforms Heightened market volatility against the backdrop of geopolitical uncertainty Continued electronification and gr
Slide 121: Serving Global Banking clients across the spectrum
We are focused on serving Global Banking clients across the spectrum with broad-based capabilities BUSINESS OVERVIEW Serving clients across their lifecycle with broad-based capabilities Advisory Expand internationally Manage liquidity Capital MarketsFund growth Optimize payments Commercial Banking G
Slide 122: Global Banking financial performance and opportunities
Our client-centric strategy has delivered strong financial performance, and there are further opportunities to grow For footnoted information, refer to slide 41 FINANCIAL PERFORMANCE 1st time in a calendar year (2024) 2019 2024 ~$280 ~$350 +27% AVERAGE LOANS5 ($B) 2019 2024 ~$480 ~$760 +57% AVERAGE
Slide 123: Expanding our client franchise through growth initiatives
We continue to focus on expanding our client franchise through targeted growth initiatives Be the leading bank for Financial Sponsors and Innovation Economy ecosystems by providing specialized, end-to-end coverage to all the constituents through all stages of their lifecycle Harness the power of dat
Slide 124: Risk discipline across the lending portfolio
62% of exposure is rated investment grade3 Maintaining risk discipline across our lending portfolio and closely monitoring evolving market conditions Note: Metrics are as of March-2025 unless otherwise noted. For footnoted information, refer to slide 41 Continuous stress testingDynamic portfolio man
Slide 125: Private Credit solutions
Private Credit: We are committed to meeting the financing needs of our borrower and investor clients through tailored, product-agnostic solutions Client-centric and solutions-driven approach Key highlights Capital committed by our co-lending partners1 ~$15B ~$13B deployed to Sponsor and Corporate cl
Slide 126: Payments Deep Dive
Investor Day | 2025 Commercial & Investment Bank Payments Deep Dive Firm Overview Consumer & Community Banking Asset & Wealth Management 'V Commercial & Investment Bank Overview Payments Deep Dive Closing Remarks JPMorganChase
Slide 127: World-leading Payments franchise
We have a world-leading Payments franchise serving a wide range of clients We serve clients of different sizes and industries across the world, providing them with a breadth of Payments solutions tailored to their unique needs With the goal to be their #1 primary operating bank Middle MarketStart Up
Slide 128: Payments drives value across the Firm
Payments drives value for businesses across the Firm IMPORTANT SOURCE OF LIQUIDITY ~1/3rd of Firmwide deposit funding CRITICAL INFRASTRUCTURE Payment rails Sanctions screening Fraud services ENHANCED CLIENT VALUE PROPOSITION CONSISTENT, RECURRING REVENUE COST-EFFICIENCIES OF IN-HOUSE PAYMENTS
Slide 129: Payments organized into five key segments
Our Payments business is industry-leading and organized into five key segments Treasury Services $10T+ Payments average daily value processed5 #1 USD SWIFT market share6 Treasury Services1#1 For footnoted information, refer to slide 42 Embedded Finance & Solutions Best overall embedded finance platf
Slide 130: Comprehensive offerings amplify each other
Our comprehensive set of offerings amplify each other… Merchant Services Embedded FinanceTreasury Services Trade & Working Capital Digital Solutions We offer a comprehensive set of solutions to meet the end-to-end needs of our clients Typical Fintech offerings Typical Bank offerings Integrated digit
Slide 131: Differentiated value to clients
…and power our unique, differentiated value to clients Nearly 30-year relationship, supporting them as they’ve grown Over 20-year partnership to further enable their global growth journey Global liquidity optimization across brands and geographies Streamlined and faster payment processing through a
Slide 132: Strong performance, gaining scale and market share
The business continues to deliver strong performance, gaining scale and market share 6.0% 2019 2020 2021 2022 2023 2024 Fee revenue growthPayments revenue1 ($B) $10.3 $18.4 2019 2024 TS market share2 9.5% Average deposits ($B) STRONG FINANCIAL PERFORMANCE UNDERPINNED BY FEE AND DEPOSIT GROWTH DELIVE
Slide 133: Tailwinds position Payments well to grow
Gig Economy Marketplaces There are significant tailwinds that position Payments well to grow GROWTH OF PAYMENTS AS AN INDUSTRY CONSOLIDATION TOWARDS THE LARGEST PLAYERS Clients favor banks that can meet their global needs at scale 2019 2024 +10% Wallet share for top 10 banks4 Digital payment adoptio
Slide 134: Targeted investments to capture growth opportunities
We are making targeted investments to capture growth opportunities across the business 1 Expanding coverage to cover more clients 2 Leveraging our fortress balance sheet 3 Modernizing products and platforms 4 Investing in digital innovation 5 Increasing global presence 27
Slide 135: Covering more clients with close coordination with Banking
Covering more clients and building deep, lasting relationships through close coordination with Banking EXPANDING COVERAGE WITH A COORDINATED APPROACH BETWEEN BANKING AND PAYMENTS TARGETING KEY GROWTH AREAS TO EXPAND OUR CLIENT FRANCHISE AND DEEPEN EXISTING RELATIONSHIPS 2022 2023 2024 ~1,000+ Total
Slide 136: Modernizing our platforms
Modernizing our platforms to win new business and drive efficiencies and operating leverage INVESTMENT IMPACTMODERNIZATION AND PRODUCT ENHANCEMENTS ~25% YoY reduction in incidents2 ~100% Existing Payments applications migrated to strategic data centers and the public cloud1 Treasury Services Compl
Slide 137: Innovation strategy and Kinexys blockchain platform
Innovation strategy centered on meeting evolving client needs and the changing Payments landscape Leading the industry with one of the most mature institutional blockchain platforms >15x Increase in transaction volumes YOY3 $1.9T Total transacted value since Kinexys launch2 Kinexys Digital Payments
Slide 138: Unlocking the value of our data
Unlocking the value of our data to drive value for the Firm and our clients EXPANSIVE DATA REACH 4 60B+ Global Transactions Integrated 3rd Party Datasets ~400mm Accounts ENABLE US TO LEVERAGE THIS DATA TO POWER SEVERAL USE CASES Client Experience Sales Enablement Operational Efficiency Cashflow fo
Slide 139: Modernizing footprint and expanding into new markets
Modernizing our current footprint and expanding into new markets to better serve clients EXPANSION OPPORTUNITY Deepen relationships with existing clients Enabling a more holistic Payments offering and seamless experience Unlocking additional opportunity, furthering our growth potential Providing
Slide 140: Well-positioned for the long term
Well-positioned for the long term Support clients across the continuum with market-leading offerings Combined scale, trust and safety of a leading bank with the innovation of a Fintech Strong financial performance, underpinned by organic growth and recurring revenue streams Disciplined investment
Slide 141: Closing Remarks
Investor Day | 2025 Commercial & Investment Bank Closing Remarks Firm Overview Consumer & Community Banking Asset & Wealth Management 'V Commercial & Investment Bank Overview Payments Deep Dive Closing Remarks JPMorganChase
Slide 142: Commercial & Investment Bank executing a proven strategy
Commercial & Investment Bank – executing a proven strategy EXCEPTIONAL TALENT & CULTURE COMPLETE GLOBAL & LOCAL AT SCALEDIVERSIFIED PAYMENTS MARKETS GLOBAL BANKING SECURITIES SERVICES 34 Client-centric Investing for growth Innovating to extend competitive advantage Diversified and resilient revenue
Slide 143: Notes on market share, ranks, industry wallets and client coverage
Notes on market share, ranks, industry wallets and client coverage 1. Coalition Greenwich Competitor Analytics. Based on JPMorganChase internal business structure and internal revenue. Excludes the impact of Archegos in 2021 Historical Coalition Greenwich competitor revenue and industry wallets have
Slide 144: Notes on non-GAAP financial measures
Notes on non-GAAP financial measures 1. The Commercial & Investment Bank (CIB) provides certain non-GAAP financial measures. These measures should be viewed in addition to, and not as a substitute for, the CIB’s reported results. The non-GAAP financial measures on slides 5 and 6 exclude the impact o
Slide 145: Notes on slides 2-3
Notes on slides 2-3 Slide 2 - The combined Commercial & Investment Bank is built around our clients 1. Coalition Greenwich Competitor Analytics reflects global firmwide Treasury Services business (Corporate & Investment Banking and Commercial Banking). Market share is based on JPMorganChase internal
Slide 146: Notes on slides 7-8
Notes on slides 7-8 Slide 7 - Our investments are focused on delivering business value 1. The CAGR and YoY calculations use actual, not rounded, numbers 2. Front Office-related growth statistics represent 2024 vs. 2019 3. Includes retired / replaced applications 4. KYC unit cost is based on comparis
Slide 147: Notes on slides 10-12
Notes on slides 10-12 Slide 10 - We have strong financial performance driven by our scale 1. 2019 and 2024 revenue excludes discontinued business 2. The CAGR calculations use actual, not rounded, numbers 3. Coalition Greenwich Competitor Analytics. Market share is based on JPMorganChase internal bus
Slide 148: Notes on slides 13-15
Notes on slides 13-15 Slide 13 – Despite our industry-leading position, further opportunities remain 1. JPM revenue as reported 2. Coalition Greenwich Competitor Analytics. Market share is based on JPMorganChase internal business structure, footprint and revenue. Ranks are based on Coalition Index
Slide 149: Notes on slides 16-21
Notes on slide 16-21 Slide 16 – Our client-centric strategy has delivered strong financial performance, and there are further opportunities to grow 1. Totals include $0.1B in Other revenues in 2019 and 2024 2. $18.1B includes ~$1B of Payments revenue through clients not covered by GB, Payments reven
Slide 150: Notes on slides 22-25
Notes on slides 22-25 Slide 22 – Our Payments business is industry-leading and organized into five key segments 1. Coalition Greenwich Competitor Analytics reflects global firmwide Treasury Services and Trade Finance business (Corporate & Investment Banking and Commercial Banking). Market share is b
Slide 151: Notes on slide
Notes on slide 26 Slide 26 – There are significant tailwinds that position Payments well to grow 1. Source: EY Global Embedded Finance Report, 2023 2. Source: Reserve Bank of India, 2024 3. Source: The Economist; 2025 4. Coalition Greenwich Competitor Analytics reflects global firmwide Treasury Serv