Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — Q1 2022 Earnings Presentation
14 slides from Jp Morgan Chase &'s earnings presentation, Apr 13, 2022
Slide 1: 1Q22 Financial Results
1Q22 Financial Results April 13, 2022
Slide 2: 1Q22 Financial highlights
1Q22 Financial highlights ROTCE1 CET1 capital ratios2 Net payout LTM3 16% Std. 11.9% | Adv. 12.6% 64% ◼ 1Q22 net income of $8.3B and EPS of $2.63 Income statement ◼ Managed revenue of $31.6B4 ◼ Expense of $19.2B and managed overhead ratio of 61% 4 ◼ Loans: average loans of $1.1T up 5% YoY and up 1%
Slide 3: 1Q22 Financial results
1Q22 Financial results1 $B, except per share data $ O/(U) 1Q22 4Q21 1Q21 Net interest income $14.0 $0.3 $1.0 Noninterest revenue 17.6 1.0 (2.5) Managed revenue 1 $B 1Q22 4Q21 1Q21 31.6 1.2 (1.5) Net charge-offs $0.6 $0.6 $1.1 Expense 19.2 1.3 0.5 Reserve build/(release) 0.9 (1.8) (5.2) Credit costs
Slide 4: Fortress balance sheet
Fortress balance sheet $B, except per share data Standardized CET1 ratio (%) 1Q22 4Q21 1Q21 Risk-based capital metrics1 13.1% CET1 capital $208 $214 $206 CET1 capital ratio – Standardized 11.9% 13.1% 13.1% 11.9% Common CET1 capital ratio – Advanced 12.6 13.8 13.7 dividends: (18 bps) Firm SLR ex. Lev
Slide 5: Consumer & Community Banking
CCB CIB CB AWM Corp. Consumer & Community Banking1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $2.9B vs. $6.8B in 1Q21 1Q22 4Q21 1Q21 ◼ Revenue of $12.2B, down 2% YoY Revenue $12,229 ($46) ($288) ◼ Expense of $7.7B, up 7% YoY, driven by higher investments and C
Slide 6: Corporate & Investment Bank
CCB CIB CB AWM Corp. Corporate & Investment Bank1 Selected income statement data ($mm) Financial performance ◼ Net income of $4.4B, down 26% YoY; revenue of $13.5B, down 7% $ O/(U) YoY 1Q22 4Q21 1Q21 ◼ Banking revenue Revenue $13,529 $1,995 ($1,076) ◼ IB revenue of $2.1B, down 28% YoY Investment Ban
Slide 7: Commercial Banking
CCB CIB CB AWM Corp. Commercial Banking1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $850mm, down 28% YoY, largely driven by credit 1Q22 4Q21 1Q21 reserve builds compared to reserve releases in the prior year Revenue $2,398 ($214) $5 ◼ Revenue of $2.4B was flat
Slide 8: Asset & Wealth Management
CCB CIB CB AWM Corp. Asset & Wealth Management1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $1.0B, down 20% YoY 1Q22 4Q21 1Q21 ◼ Revenue of $4.3B, up 6% YoY, predominantly driven by growth in deposits and loans as well as higher management and performance Reven
Slide 9: Corporate
CCB CIB CB AWM Corp. Corporate1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Revenue was a loss of $881mm ◼ Net interest income was a loss of $536mm, up $319mm YoY, due 1Q22 4Q21 1Q21 to the impact of higher rates Revenue ($881) ($336) ($408) ◼ Noninterest revenue was a loss
Slide 10: Outlook
Outlook1 Firmwide 1 Expect FY2022 net interest income excluding Markets to be $53B+, market dependent 2 Expect FY2022 adjusted expense of ~$77B, market dependent 1 See notes 1, 2 and 4 on slide 10 9
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 relief provided by the Federal Reserve Board in response to the COVID-19 pandemic, including the Current Expected Credit Losses ("CECL") capital transition provisions which expired on December 31, 2021. Effective January 1, 2022, the $2.9B CECL capital benefit recogn
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