Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — Q4 2024 Earnings Presentation
19 slides from Jp Morgan Chase &'s earnings presentation, Jan 15, 2025
Slide 1: 4Q24 Financial Results
4Q24 Financial Results January 15, 2025 Exhibit 99
Slide 2: Agenda
Agenda Page 1 4Q24 and FY24 Financial Results 1 2 Financial Outlook 9 3 Notes 12
Slide 3: 4Q24 Financial highlights
4Q24 Financial highlights 1 See note 3 on slide 12 2 Represents the estimated Basel III common equity Tier 1 (“CET1”) capital and ratio and Total Loss-Absorbing Capacity for the current period. See note 1 on slide 13 3 Standardized risk-weighted assets (“RWA”). Estimated for the current period. See
Slide 4: 4Q24 Financial results
4Q24 3Q24 4Q23 Net interest income $23.5 ($0.1) ($0.7) Noninterest revenue 20.3 0.5 4.5 Managed revenue1 43.7 0.4 3.8 Expense 22.8 0.2 (1.7) Credit costs 2.6 (0.5) (0.1) Net income $14.0 $1.1 $4.7 Net income applicable to common stockholders $13.7 $1.1 $4.8 EPS – diluted $4.81 $0.44 $1.77 ROE2 17% 1
Slide 5: FY24 Financial results
$ O/(U) FY2024 FY2023 FY2023 Net interest income $93.1 $89.7 $3.3 Noninterest revenue 87.5 72.6 14.9 Managed revenue1 180.6 162.4 18.2 Expense 91.8 87.2 4.6 Credit costs 10.7 9.3 1.4 Net income2 $58.5 $49.6 $8.9 Net income applicable to common stockholders $56.9 $47.8 $9.1 EPS – diluted2 $19.75 $16.
Slide 6: Fortress balance sheet
Fortress balance sheet $B, EXCEPT PER SHARE DATA STANDARDIZED RISK-WEIGHTED ASSETS ($B)1 Note: Totals may not sum due to rounding 1 Estimated for the current period. See note 1 on slide 13 2 Estimated for the current period. Represents the supplementary leverage ratio (“SLR”) 3 Estimated for the cur
Slide 7: Consumer & Community Banking
Consumer & Community Banking1 CIB AWM Corp.CCB Average loans up 1% YoY and QoQ Average deposits down 4% YoY and flat QoQ EOP deposits down 3% YoY and flat QoQ Active mobile customers up 7% YoY Debit & credit card sales volume up 8% YoY Client investment assets up 14% YoY and 2% QoQ KEY D
Slide 8: Commercial & Investment Bank
REVENUE BY CLIENT COVERAGE SEGMENT ($MM) KEY DRIVERS / STATISTICS ($B)4 Commercial & Investment Bank1,2 1 See note 1 on slide 12; For additional footnotes see slide 14 CCB CIB AWM Corp. SELECTED INCOME STATEMENT DATA ($MM) $ O/(U) 4Q24 3Q24 4Q23 Revenue $17,598 $583 $2,624 Investment Banking revenue
Slide 9: Asset & Wealth Management
SELECTED INCOME STATEMENT DATA ($MM) Asset & Wealth Management1 CCB CIB AWM Corp. KEY DRIVERS / STATISTICS ($B)2 Net income of $1.5B, up 25% YoY Revenue of $5.8B, up 13% YoY, predominantly driven by growth in management fees on higher average market levels and strong net inflows, as well as high
Slide 10: Corporate
Corporate1 1 See note 1 on slide 12 2 See note 3 on slide 13 CCB CIB AWM Corp. Revenue of $2.0B, up $223mm YoY Net interest income of $2.0B, down $415mm YoY, driven by lower rates, largely offset by the impact of balance sheet actions, primarily securities reinvestment Noninterest revenue was
Slide 11: Agenda
Agenda Page 1 4Q24 and FY24 Financial Results 1 2 Financial Outlook 9 3 Notes 12
Slide 12: 2025 net interest income outlook
$89 ($3) $1 2024 2025 outlook We expect ~$90B in NII ex. Markets for 2025, as balance sheet growth partially offsets lower rates 1 See note 2 on slide 12 2 Outlook is based on implied rate curve as of January 10, 2025 3 Federal Funds target upper bound (“FFTUB”) 4 Interest on reserve balances (“IORB
Slide 13: 2025 expense outlook
$0.0 $0.5 $1.0 $1.5 $2.0 $2.5 Marketing Technology Bankers, Advisors, Branches and S&GO Volume- and revenue-related $38 $41 $35 $38 $14 $15 $2 $2 2024 2025 outlook Our 2025 expense outlook is ~$95B ~$95 ADJUSTED EXPENSE1 ($B) CCB CIB AWM Corp. $91.1 FDIC SA and Foundation contribution2 2025 YoY expe
Slide 14: Outlook
Outlook1 1 See notes 1, 2 and 5 on slide 12 Expect FY2025 net interest income of ~$94B, market dependent Expect FY2025 net interest income excluding Markets of ~$90B, market dependent Expect FY2025 Card Services NCO rate of ~3.6%3 FIRMWIDE Expect FY2025 adjusted expense of ~$95B, market dependent –
Slide 15: Agenda
Agenda Page 1 4Q24 and FY24 Financial Results 1 2 Financial Outlook 9 3 Notes 12
Slide 16: 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 17: Additional notes
Additional notes 1. Reflects the Current Expected Credit Losses ("CECL") capital transition provisions. As of December 31, 2024 and September 30, 2024, CET1 capital and Total Loss- Absorbing Capacity reflected the remaining $720mm CECL benefit; as of December 31, 2023, CET1 capital reflected a $1.4B
Slide 18: Additional notes on slides 5-6
Additional notes on slides 5-6 Slide 5 – 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. Firmwide mortgage origination volume was $14.2B, $13.3B, and $8.6B for
Slide 19: 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