Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — Q3 2024 Earnings Presentation
13 slides from Jp Morgan Chase &'s earnings presentation, Oct 11, 2024
Slide 1: 3Q24 Financial Results
3Q24 Financial Results October 11, 2024
Slide 2: 3Q24 Financial highlights
3Q24 Financial highlights CET1 capital ratios2 Std. RWA3 $1.8T ROTCE1 15.3% | Adv. 15.5% Std. $1.5T Cash and marketable securities4 19% Total Loss-Absorbing Capacity $544B Average loans $1.3T 2 ⚫ 3Q24 net income of $12.9B and EPS of $4.37 Income statement ⚫ Managed revenue of $43.3B5 ⚫ Expense of $2
Slide 3: 3Q24 Financial results
3Q24 Financial results1 $B, EXCEPT PER SHARE DATA $ O/(U) 3Q24 2Q24 3Q23 Net interest income $23.5 $0.7 $0.7 Noninterest revenue 19.8 (8.3) 2.0 Managed revenue 1 $B 3Q24 2Q24 3Q23 43.3 (7.7) 2.6 Net charge-offs $2.1 $2.2 $1.5 Expense Reserve build/(release) 1.0 0.8 (0.1) 22.6 (1.1) 0.8 Credit costs
Slide 4: Fortress balance sheet
Fortress balance sheet $B, EXCEPT PER SHARE DATA STANDARDIZED CET1 RATIO (%)1 3Q24 2Q24 3Q23 72 bps 1 Risk-based capital metrics CET1 capital $273 $267 $242 15.3% (55 bps) 15 bps 1 bps 15.3% CET1 capital ratio – Standardized 15.3% 15.3% 14.3% CET1 capital ratio – Advanced 15.5 15.5 14.5 (35 bps) Bas
Slide 5: Consumer & Community Banking
CCB CIB AWM Corp. Consumer & Community Banking1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE $ O/(U) ⚫ Net income of $4.0B, down 31% YoY 3Q24 2Q24 3Q23 ⚫ Revenue of $17.8B, down 3% YoY, largely driven by lower net interest Revenue $17,791 $90 ($571) income Banking & Wealth Management 1
Slide 6: Commercial & Investment Bank
CCB CIB AWM Corp. Commercial & Investment Bank1,2 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE $ O/(U) ⚫ Net income of $5.7B, up 13% YoY; revenue of $17.0B, up 8% YoY 3Q24 2Q24 3Q23 ⚫ Banking & Payments revenue Revenue $17,015 ($902) $1,254 ⚫ IB revenue of $2.4B, up 29% YoY, driven by
Slide 7: Asset & Wealth Management
CCB CIB AWM Corp. Asset & Wealth Management1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE ⚫ Net income of $1.4B, down 5% YoY $ O/(U) ⚫ Revenue of $5.4B, up 9% YoY, driven by growth in management fees on 3Q24 2Q24 3Q23 higher average market levels and strong net inflows, investment valu
Slide 8: Corporate
CCB CIB AWM Corp. Corporate1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE ⚫ Revenue of $3.1B, up $1.5B YoY $ O/(U) ⚫ Net interest income of $2.9B, up $932mm YoY, predominantly driven by 3Q24 2Q24 3Q23 the impact of balance sheet mix and securities reinvestment ⚫ Noninterest revenue of
Slide 9: Outlook
Outlook1 FIRMWIDE Expect FY2024 net interest income of ~$92.5B, market dependent – 3Q24YTD of $69.6B implies 4Q24 of ~$22.9B 1 Expect FY2024 net interest income excluding Markets of ~$91.5B, market dependent – 3Q24YTD of $69.4B implies 4Q24 of ~$22.1B Expect FY2024 adjusted expense of ~$91.5B, marke
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 September 30, 2024 and June 30, 2024, CET1 capital and Total Loss- Absorbing Capacity reflected the remaining $720mm CECL benefit; as of September 30, 2023, CET1 capital reflected a $1.4B be
Slide 12: Additional notes on slides 4-5
Additional notes on slides 4-5 Slide 4 – Consumer & Community Banking 2. Actual numbers for all periods, not over/(under) 3. Users of all mobile platforms who have logged in within the past 90 days 4. Excludes Commercial Card 5. Firmwide mortgage origination volume was $13.3B, $12.3B and $13.0B for
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