Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — Q2 2024 Earnings Presentation
13 slides from Jp Morgan Chase &'s earnings presentation, Jul 12, 2024
Slide 1: 2Q24 Financial Results
2Q24 Financial Results July 12, 2024
Slide 2: 2Q24 Financial highlights
2Q24 Financial highlights CET1 capital ratios3 Std. RWA4 $1.7T ROTCE1 28% 15.3% | Adv. 15.5% Std. Cash and marketable securities5 $1.5T ROTCE ex. significant items2 20% Total Loss-Absorbing Capacity $534B Average loans $1.3T 3 ⚫ 2Q24 net income of $18.1B and EPS of $6.12 – Excluding significant item
Slide 3: 2Q24 Financial results
2Q24 Financial results1 $B, EXCEPT PER SHARE DATA $ O/(U) 2Q24 1Q24 2Q23 Net interest income $22.9 ($0.3) $1.0 Noninterest revenue 28.1 8.8 7.6 Managed revenue 1 $B 2Q24 1Q24 2Q23 51.0 8.4 8.6 Net charge-offs $2.2 $2.0 $1.4 Expense Reserve build/(release) 0.8 (0.1) 1.5 23.7 1.0 2.9 Credit costs Cred
Slide 4: Fortress balance sheet
Fortress balance sheet $B, EXCEPT PER SHARE DATA STANDARDIZED CET1 RATIO (%)1 2Q24 1Q24 2Q23 104 bps 1 Risk-based capital metrics CET1 capital $267 $258 $236 (48 bps) 0 bps 15.3% CET1 capital ratio – Standardized 15.3% 15.0% 13.8% (27 bps) (0 bps) 15.0% CET1 capital ratio – Advanced 15.5 15.3 13.9 B
Slide 5: Consumer & Community Banking
CCB CIB AWM Corp. Consumer & Community Banking1,2 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE $ O/(U) ⚫ Net income of $4.2B, down 21% YoY 2Q24 1Q24 2Q23 ⚫ Revenue of $17.7B, up 3% YoY, predominantly due to higher noninterest Revenue $17,701 $48 $468 revenue in Banking & Wealth Managem
Slide 6: Commercial & Investment Bank
CCB CIB AWM Corp. Commercial & Investment Bank1,2,3 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE $ O/(U) ⚫ Net income of $5.9B, up 11% YoY; revenue of $17.9B, up 9% YoY 2Q24 1Q24 2Q23 ⚫ Banking & Payments revenue ⚫ IB revenue of $2.5B, up 46% YoY, driven by higher fees across all produ
Slide 7: Asset & Wealth Management
CCB CIB AWM Corp. Asset & Wealth Management1,2 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE ⚫ Net income of $1.3B, up 3% YoY $ O/(U) ⚫ Revenue of $5.3B, up 6% YoY, driven by growth in management fees 2Q24 1Q24 2Q23 on higher average market levels and strong net inflows, as well as high
Slide 8: Corporate
CCB CIB AWM Corp. Corporate1,2 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE ⚫ Revenue of $10.1B, up $6.4B YoY $ O/(U) ⚫ Net interest income of $2.4B, up $626mm YoY, driven by the impact 2Q24 1Q24 2Q23 of balance sheet mix and higher rates ⚫ Noninterest revenue was a net gain of $7.8B,
Slide 9: Outlook
Outlook1 FIRMWIDE Expect FY2024 net interest income of ~$91B, market dependent 1 Expect FY2024 net interest income excluding Markets of ~$91B, market dependent Expect FY2024 adjusted expense of ~$92B, market dependent 2 – Adjusted expense excludes Firmwide legal expense and includes the increase to
Slide 10: 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 11: Additional notes
Additional notes 1. Reflects the Current Expected Credit Losses ("CECL") capital transition provisions. As of June 30, 2024 and March 31, 2024, CET1 capital and Total Loss-Absorbing Capacity reflected the remaining CECL benefit of $720mm; as of June 30, 2023, CET1 capital reflected the benefit of $1
Slide 12: Additional notes on slides 4-5
Additional notes on slides 4-5 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. Excludes First Republic accounts not yet converted to JPMorgan Chase platforms 5. Excludes Commercial
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