Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — Investor Day (2022)
106 slides from Jp Morgan Chase &'s investor day presentation, 2022
Slide 1: Investor Day 2022 Consumer & Community Banking
INVESTOR DAY | 2022 CONSUMER & COMMUNITY BANKING FIRM OVERVIEW GLOBAL TECHNOLOGY CONSUMER & COMMUNITY BANKIN G INTERNATIONAL CONSUMER GROWTH INITIATIVES CORPORATE & INVESTMENT BANK COMMERCIAL BANKING ASSET & WEALTH MANAGEMENT JPMORGAN CHASE & Co.
Slide 2: We have a consistent set of strategic priorities
We have a consistent set of strategic priorities Grow households and better serve customer ◼ Deepen relationships with customers – with a focus on investments in Wealth Management and lending 1 needs to be the bank for all ◼ Deliver compelling value propositions across customer segments Drive engage
Slide 3: We have grown our core franchise and maintained strong financial results
We have grown our core franchise and maintained strong financial results Business growth1 Customer balances Financial metrics CCB households (mm) Average deposits ($B) Revenue ($B) 6% 51% (9%) 66.3 $1,055 $55.1 62.6 $50.1 $698 2019 2021 2019 2021 2019 2021 +8% Consumer Banking households Client inve
Slide 4: We are driving core growth in the business
We are driving core growth in the business CCB revenue ($B)1 $55.1 $2.7 $0.5 $50.1 ($0.6) Net interest income ($B) ($7.7) 2021 actual: ▲ Net margin expansion across lending $32.8 ▼ Card renewals & refresh ▼ Overdraft policy changes 2022 Outlook: ~$38 ▲ Deposit & investment growth ▲ Home Lending prod
Slide 5: We are investing to drive future growth
We are investing to drive future growth CCB adjusted expense ($B)1,2 ~$2.3 ~$32 $29.2 ~($0.6) ~$1.0 ($0.2) $1.0 $28.2 $0.2 Cumulative 2019-2022 change ($B)2 Volume- & revenue-related ~($0.4) ▼ Auto lease depreciation ▲ Core volume growth ▲ Salesforce incentives Structural ~$0.8 ▲ Wage inflation Inve
Slide 6: We delivered strong returns and efficiency relative to peers, while investing for the future
We delivered strong returns and efficiency relative to peers, while investing for the future CCB returns are higher than peers, and our overhead ratio is in line… …including within our two largest businesses Metrics reflect 2021 as reported Consumer & Business Banking (CBB) Business mix1 Competitor
Slide 7: We are generating operating leverage in the business
We are generating operating leverage in the business We have overcome inflationary pressures to reduce cost per account… …by generating operating leverage and productivity across our largest businesses Total expenses (excluding investments) Shift to digital per CCB account1 Branch (12%) / self-serve
Slide 8: From 2019-2022, we are investing an incremental $3.3B
From 2019-2022, we are investing an incremental $3.3B to strengthen and grow the franchise CCB investments ($B) represent $7.5B of $15B in total Firmwide investments +$3.3 Return profile $7.5 ◼ Deal integration & amortization (cxLoyalty, Frosch) 6 year Commerce $0.9 ◼ Travel platform operating expen
Slide 9: We continue to deliver customer and business value as we modernize our technology
We continue to deliver customer and business value as we modernize our technology Technology and product investments ($B) Impact being driven by our technology investments (select examples) +$1.0 Tech product development: Deliver experiences customers love $2.8 Channels (~10% spend) Products (~30% s
Slide 10: We have consistently driven core growth and strong returns over the long term
We have consistently driven core growth and strong returns over the long term Consumer & Community Banking – 10-year performance1,2 CCB ROE ex. LLR3 $21.6 CCB pretax income ex. LLR ($B)3 $19.4 $18.8 $18.1 Fed Funds Effective Rate4 28% 30% $15.2 $15.0 $14.5 26% $13.5 26% $12.4 $11.7 18% 18% 16% 17% 1
Slide 11: Agenda
Agenda Page 1 CCB Overview 1 2 Consumer & Business Banking and Wealth Management 10 3 Consumer Payments, Lending, and Commerce 34 4 Closing Remarks 66 5 Notes 68
Slide 12: We are pursuing strategies to be the bank for all, extend our presence, and grow wallet share
We are pursuing strategies to be the bank for all, extend our presence, and grow wallet share We have clear objectives… …building from a position of strength… …by addressing key opportunities ◼ Increase share of younger and low-to- ◼ #1 Consumer & Business Bank based on retail deposits1 moderate inc
Slide 13: We have continued to drive customer growth across Consumer & Business Banking
CBB Branch Wealth We have continued to drive customer growth across Consumer & Business Banking Consumer Banking deposit households (mm)1 Business Banking deposit clients (mm)1 +15% +37% 28.1 26.1 24.6 3.5 Younger generations are 2.9 a growing share of our 2.6 customer base: Millennial and Gen Z now
Slide 14: Chase banking customers use a comprehensive set of solutions to make the most of their money
CBB Branch Wealth Chase banking customers use a comprehensive set of solutions to make the most of their money Services available to Consumer & Business Banking customers CBB customer engagement with select services Account Access & Management • Checking accounts • Direct deposit • Digital wallets •
Slide 15: We are tailoring value propositions to meet the distinct needs of customers across segments
CBB Branch Wealth We are tailoring value propositions to meet the distinct needs of customers across segments Select examples of our consumer segment strategies Youth and Families Low-to-Moderate Income Affluent Launched Chase First Scaled Chase Scaling Private Client by focusing on affluent March ‘
Slide 16: We help small business owners start, run, and grow their business
CBB Branch Wealth We help small business owners start, run, and grow their business Select examples of our small business segment strategies Smaller, less complex businesses Larger, more complex businesses Industry segments (e.g., retailers) Offering Business Extending client Harnessing the Complete
Slide 17: We have strengthened our omni-channel model
CBB Branch Wealth We have strengthened our omni-channel model to better serve our customers’ day-to-day needs Self-service Assisted Transaction mix for Consumer & Business Banking customers Deposit account opening Servicing Money movement % of accounts % of transactions % of transactions Call center
Slide 18: Our primary relationships are satisfied, loyal, and engaged
CBB Branch Wealth Our primary relationships are satisfied, loyal, and engaged Consumer Banking Business Banking ~80% ~70% of Chase Consumer checking of Chase Business Banking households partner with us as clients choose us for their their primary bank1 primary operating account2 These households: Th
Slide 19: Looking ahead, we will continue to earn the right to be at the center of our customers' financial lives
CBB Branch Wealth Looking ahead, we will continue to earn the right to be at the center of our customers’ financial lives Extend distribution to cover more of the U.S. population Customer engagement Across customer segments and digital and human channels Enhance customer experiences to close capab
Slide 20: We are pursuing strategies to be the bank for all, extend our presence, and grow wallet share
We are pursuing strategies to be the bank for all, extend our presence, and grow wallet share We have clear objectives… …building from a position of strength… …by addressing key opportunities ◼ Increase share of younger and low-to- ◼ #1 Consumer & Business Bank based on retail deposits1 moderate inc
Slide 21: efi
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Slide 22: Our branch network is a core strategic asset
CBB Branch Wealth Our branch network is a core strategic asset Our branch network is a key driver of… Consideration and acquisition across channels Providing exceptional customer service Serving more customer needs Digital account production per 1k HHs1 Balance by customer channel Productivity per b
Slide 23: Branches are increasingly serving as hubs for relationship development
CBB Branch Wealth Branches are increasingly serving as hubs for relationship development Our bankers have transitioned to an …enabling our integrated team of experts to identify and serve more client needs over outbound relationship model… time Time spent on proactive customer outreach Integrated br
Slide 24: We are evolving our branches and tailoring execution to meet the needs of local communities
CBB Branch Wealth We are evolving our branches and tailoring execution to meet the needs of local communities Our updated branch formats foster deeper client engagement… …and we adapt our playbook locally; a key example is our community strategy Roles Adapt proven integrated team model ~25 >150 >100
Slide 25: We have a proven, data-driven approach to optimize and extend our branch network coverage
CBB Branch Wealth We have a proven, data-driven approach to optimize and extend our branch network coverage We are optimizing our branch network to align with customer …and leveraging our proven local model to expand in high demand in mature markets1… opportunity markets ~850 total consolidations si
Slide 26: We have established a growth engine in our branch network for the next decade
CBB Branch Wealth We have established a growth engine in our branch network for the next decade and beyond Branch network by age cohort1 Average deposits per branch 78% 88% $229mm 10+ years As our branches <10 years mature, they would 10% add an $126mm incremental ~$140B 5 - 10 years 6% 12% in depos
Slide 27: Looking ahead, our goal is to have the right branches, in more communities
CBB Branch Wealth Looking ahead, our goal is not to have the most branches — but to have the right branches, in more communities, serving the financial needs of our customers Chase branch network coverage by state, 2017YE Chase branch network coverage by state, 2021YE Coverage within Chase footprint
Slide 28: We are pursuing strategies to be the bank for all, extend our presence, and grow wallet share
We are pursuing strategies to be the bank for all, extend our presence, and grow wallet share We have clear objectives… …building from a position of strength… …by addressing key opportunities ◼ Increase share of younger and low-to- ◼ #1 Consumer & Business Bank based on retail deposits1 moderate inc
Slide 29: We have established a strong foundation to serve more of our clients' investment needs
CBB Branch Wealth We have established a strong foundation to serve more of our clients’ investment needs Full-service Self-Directed Includes Chase Wealth Management J.P. Morgan Self-Directed Investing, and J.P. Morgan Advisors launched in 20182 2.4mm 1.3mm Accounts Accounts3 $660B $58B Client Invest
Slide 30: There is tremendous value to operating our full-service offering within our branch ecosystem
CBB Branch Wealth There is tremendous value to operating our full-service offering within our branch ecosystem Our branches are key drivers of advisor hiring and client acquisition… …fueling a strong growth trajectory Advisor hiring Full-Service Relative to external hires, these advisors: client acc
Slide 31: We will continue to add advisor capacity given the strength of our model
CBB Branch Wealth We will continue to add advisor capacity given the strength of our model We plan to continue growing all advisor channels… …through our unique branch-based talent and operating model Advisor headcount1 Advisor productivity ~30% 4 year expected advisor break-even 2 ~30% ~ 6,000 aver
Slide 32: Chase customers are extending high digital engagement into Self-Directed Investing
CBB Branch Wealth Chase customers are extending high digital engagement into Self-Directed Investing …as clients see value in managing their Chase digital channels are a key driver of client acquisition… banking and investing needs in one place Client acquisition Self-Directed Investing client accou
Slide 33: We are launching a remote advice channel for mass-affluent clients
CBB Branch Wealth We are launching a remote advice channel for mass-affluent clients looking for low-cost advice This channel will help us serve clients who engage digitally through a flexible and affordable platform J.P. Morgan Personal Advisors To be launched in 2022 Human-led, digitally-enabled:
Slide 34: Our new omni-channel wealth planning platform
CBB Branch Wealth Our new omni-channel wealth planning platform will be a collaborative tool for clients and advisors Wealth Plan will help clients manage their end-to-end finances online or with an advisor Wealth Plan by J.P. Morgan To be launched in 2022 Consolidated Personalized goals Advisor / c
Slide 35: Looking ahead, we are creating a wealth franchise to best serve clients across all channels
CBB Branch Wealth Looking ahead, we are creating a wealth franchise to best serve clients across all channels Our target state enables us to serve our clients with the solutions across channels that best fit their needs… …enabling us to capture more of our clients’ investment wallet Client Investmen
Slide 36: Agenda
Agenda Page 1 CCB Overview 1 2 Consumer & Business Banking and Wealth Management 10 3 Consumer Payments, Lending, and Commerce 34 4 Closing Remarks 66 5 Notes 68
Slide 37: We're pursuing strategies to lead and innovate in payments, lending, and commerce
We’re pursuing strategies to lead and innovate in payments, lending, and commerce We have clear objectives… …building from a position of strength… …by addressing key opportunities ◼ Leading Payments franchise with >$5T in volume (+31%)1,2 Payments ◼ Maintain leading payments franchise and Experience
Slide 38: Winning in payments is our strategic imperative
Unsecured Secured Payments Commerce Lending Lending Winning in payments is our strategic imperative – we are focused on a core set of priorities Deliver secure, seamless Scale all methods Modernize our customer experiences across of payment core infrastructure all venues 31% 70% >80% Growth in our >
Slide 39: Looking ahead, we'll continue to watch and respond to emerging trends in payments
Unsecured Secured Payments Commerce Lending Lending Looking ahead, we’ll continue to watch and respond to emerging trends in payments Our principles Empower customer choice across Be data-led to serve Support sustainable innovation of methods of payment and meet customer needs and deliver elevated p
Slide 40: We're pursuing strategies to lead and innovate in payments, lending, and commerce
We’re pursuing strategies to lead and innovate in payments, lending, and commerce We have clear objectives… …building from a position of strength… …by addressing key opportunities ◼ Leading Payments franchise with >$5T in volume (+31%)1,2 Payments ◼ Maintain leading payments franchise and Experience
Slide 41: Our Card franchise continues to be the industry leader in sales and outstanding balances
Unsecured Secured Payments Commerce Lending Lending Our Card franchise continues to be the industry leader in sales and outstanding balances We maintained our position of strength #1 in credit card sales volume1 #1 spend-based top of wallet share (8ppts higher vs. industry)2 customer retention in 20
Slide 42: We are making critical investments to refresh existing and launch new Card products
Unsecured Secured Payments Commerce Lending Lending We are making critical investments to refresh existing and launch new Card products Industry-leading Scale Small Business Card Opportunity: High-growth opportunity to better serve needs with new products 22.4% Overall card sales market share in 202
Slide 43: Our product development engine is also scaling our pay-over-time solutions
Unsecured Secured Payments Commerce Lending Lending Our product development engine is also scaling our pay-over-time solutions Proven track record for scaling digital products Uniquely positioned to scale pay-over-time solutions ◼ Our platform enables us to scale solutions rapidly with our ◼ We’ve s
Slide 44: We are expanding our installment lending distribution and capabilities
Unsecured Secured Payments Commerce Lending Lending We are expanding our installment lending distribution and capabilities Go-forward Approach: 1◼ Scaling Chase Installments and enhancing card-based solutions 2◼ Expanding card-based installments to POS starting with strategic co-brand partners next
Slide 45: Our value propositions continue to attract the next generation of card members
Unsecured Secured Payments Commerce Lending Lending Our value propositions continue to attract the next generation of card members Are Millennials & Gen Z averse to credit? No Younger generations represent a growing share of acquisitions Generation Bands: Millennial & Gen Z: Credit Card Spend as % o
Slide 46: Our marketing engine fuels our distribution and scale across CCB
Unsecured Secured Payments Commerce Lending Lending Our marketing engine fuels our distribution and scale across CCB CCB Gross Cash Marketing Spend by LOB ($B)1 Card Gross Cash Marketing Spend by Category ($B) Growth rates reflect 2022 Outlook v. 2019 Growth rates reflect 2022 Outlook v. 2019 ~$5.7
Slide 47: Structural improvements in card marketing productivity allow us to scale investment
Unsecured Secured Payments Commerce Lending Lending Structural improvements in card marketing productivity allow us to scale investment as market opportunities present Key marketing productivity drivers Offers in market have driven acquisition share gain Overall Acquisitions Share2 ◼ Our channels ar
Slide 48: From 2012 to 2021, Card has delivered tremendous growth and value
Unsecured Secured Payments Commerce Lending Lending From 2012 to 2021, Card has delivered tremendous growth and value Pretax Income ex. LLR +74% $6.4B $3.6B 6% CAGR 2012 2021 ROE ex. LLR 19% 35% More customers, greater Improved yield and operating Secular and cyclical headwinds engagement leverage ↑
Slide 49: Looking ahead, expect continued product innovation, growth, and strong returns
Unsecured Secured Payments Commerce Lending Lending Looking ahead, expect continued product innovation, growth, and strong returns Opportunities Actions we are taking Looking forward ✓ Continuing to drive new accounts through owned channels Scale ✓ Filling product gaps to better serve all customer s
Slide 50: We're pursuing strategies to lead and innovate in payments, lending, and commerce
We’re pursuing strategies to lead and innovate in payments, lending, and commerce We have clear objectives… …building from a position of strength… …by addressing key opportunities ◼ Leading Payments franchise with >$5T in volume (+31%)1,2 Payments ◼ Maintain leading payments franchise and Experience
Slide 51: We delivered a higher-quality, lower-volatility Home Lending business
Unsecured Secured Payments Commerce Lending Lending We delivered a higher-quality, lower-volatility Home Lending business We de-risked the book and improved our servicing efficiency We optimized the balance sheet while maintaining pristine credit quality Government / subprime mix of serviced units R
Slide 52: Home Lending saw strong performance over the last two years
Unsecured Secured Payments Commerce Lending Lending Home Lending saw strong performance over the last two years We grew Consumer originations and scaled Correspondent… …delivering strong returns Origination volume ($B) Home Lending ROE1 Consumer Correspondent $163 +55% +2ppts 23% $114 $71 +7ppts 21%
Slide 53: Home Lending is a relationship business that drives benefits across Chase
Unsecured Secured Payments Commerce Lending Lending Home Lending is a relationship business that drives benefits across Chase Driving recapture with core Protecting existing deposit Attracting new deposits and households relationships investments ~2x ~25% ~$9B Higher mortgage recapture Net higher de
Slide 54: We are operating in a rapidly changing macro environment
Unsecured Secured Payments Commerce Lending Lending We are operating in a rapidly changing macro environment Mortgage rates are rapidly increasing, now at The originations market is forecasted to contract Home prices have continued to rise amidst their highest in over a decade and shift towards Purc
Slide 55: We are building a unified ecosystem to drive engagement and streamline the mortgage process
Unsecured Secured Payments Commerce Lending Lending We are building a unified ecosystem to drive engagement and streamline the mortgage process Explore ◼ Search for properties that fit your criteria (launched 4Q20) ◼ Explore personalized offers and access loan products and pricing (4Q20) ◼ Determine
Slide 56: Results to-date are encouraging as we are seeing rapid digital adoption
Unsecured Secured Payments Commerce Lending Lending Results to-date are encouraging as we are seeing rapid digital adoption Most customers start apps digitally… …with a growing share highly engaged… …leading to better customer outcomes % of applications that start digitally % of loans using digital
Slide 57: Looking ahead, we are improving productivity and efficiency across the value chain
Unsecured Secured Payments Commerce Lending Lending Looking ahead, we are improving productivity and efficiency across the value chain Opportunities Actions we are taking Progress so far Lead ✓ Enhancing and scaling our digital ecosystem to drive engagement ~12ppts with prospects and existing custom
Slide 58: We have a leading Auto finance business focused on risk-adjusted returns
Unsecured Secured Payments Commerce Lending Lending We have a leading Auto finance business focused on through-the-cycle risk-adjusted returns We were the #3 Auto finance lender in 20211 We began facing macro headwinds in 2H 2021 Loan & Lease Originations Loan & Leased Assets Days Supply SAAR 2 Reve
Slide 59: Looking ahead, we are focused on growth and diversification
Unsecured Secured Payments Commerce Lending Lending Looking ahead, we are focused on growth and diversification Opportunities Actions we are taking Increase production ✓ Driving adoption of Digital Dealer self-service tools – which has improved from 4% to 16%; in our retail channel conversion rates
Slide 60: We've maintained a prudent risk profile while we continue to grow the business
Unsecured Secured Payments Commerce Lending Lending We’ve maintained a prudent risk profile while we continue to grow the business Industry Risk Performance Metrics Chase Key Portfolio Indicators – structurally de-risked our businesses Card1 2012 2019 2021 Sub-Prime Mix 30+ DQs Net Credit Losses Iss
Slide 61: We expect credit normalization to take time
Unsecured Secured Payments Commerce Lending Lending We expect credit normalization to take time Credit Risk Outlook Net Charge-off Guidance ◼ Consumer balance sheets are strong, with high levels of liquidity NCO rate (%) 2019 2020 2021 2022 Outlook and record low debt to income ratios ◼ Leading cred
Slide 62: Stylized stress scenario analysis for Card
Unsecured Secured Payments Commerce Lending Lending Stylized stress scenario analysis for Card Key assumptions – not an outlook ◼ Primary driver of stress scenario is unemployment rate (UER) – both peak UER rate and recovery path ◼ Average outstandings remain constant at $150B in each scenario – ass
Slide 63: We're pursuing strategies to lead and innovate in payments, lending, and commerce
We’re pursuing strategies to lead and innovate in payments, lending, and commerce We have clear objectives… …building from a position of strength… …by addressing key opportunities ◼ Leading Payments franchise with >$5T in volume (+31%)1,2 Payments ◼ Maintain leading payments franchise and Experience
Slide 64: We are poised to capture incremental opportunities in Commerce
Unsecured Secured Payments Commerce Lending Lending We are poised to capture incremental opportunities in Commerce Customer Journey End-to-End Commerce Experiences Our Core Capabilities ✓ Offers Research & Discovery ✓ Content ✓ Rewards Consideration ✓ POS / Booking Engine Travel & Dining Shopping Ho
Slide 65: Our two-sided Commerce platforms deliver significant value for customers and merchants at scale
Unsecured Secured Payments Commerce Lending Lending Our two-sided Commerce platforms deliver significant value for customers and merchants at scale In 2021, our platforms were already driving value at scale Commerce Platforms Purchasing Power Embedded Benefits Spend >$10B >$12B >$13B of spend throug
Slide 66: Chase Travel
Unsecured Secured Payments Commerce Lending Lending With our recent acquisitions, we are becoming a household name in premium leisure travel 1 in 2 9 1 in 4 6.6mm 2.4mm 9 Affluent households Travel co-brand Card Dollars spent on leisure Travel Transactions Unique customers Sapphire Lounge have a Cha
Slide 67: We estimate we are a top 5 consumer travel provider and will continue to grow
Unsecured Secured Payments Commerce Lending Lending We estimate we are a top 5 consumer travel provider1 and will continue to grow Chase Travel Sales Volume ($B): Value of recent acquisitions: ~15B ✓ Cash flow positive today3 ~10B ✓ 6-year payback period with increased operating leverage as we scale
Slide 68: Looking ahead, we are expanding into new Commerce verticals
Unsecured Secured Payments Commerce Lending Lending Looking ahead, we are expanding into new Commerce verticals leveraging a consistent playbook Opportunities Actions we are taking Key Data Points ✓ Broadening our customer experiences to new segments beyond credit card 66mm households Expand Our Rea
Slide 69: Agenda
Agenda Page 1 CCB Overview 1 2 Consumer & Business Banking and Wealth Management 10 3 Consumer Payments, Lending, and Commerce 34 4 Closing Remarks 66 5 Notes 68
Slide 70: We are investing to extend our leadership positions and grow new businesses
We are investing to extend our leadership positions and grow new businesses Market leader in our largest businesses Future leverage from investments Enhanced propositions Historical growth and outlook Last 10 yrs: +320 bps retail Consumer & Business Banking Branches <10 years old Scaling segment off
Slide 71: Our competitive advantages enable continued best-in-class financial performance
Our competitive advantages enable continued best-in-class financial performance Scale of our customer ✓ >66mm households – up 6% since 2019 1 relationships is the catalyst for ✓ >46mm mobile active customers – up 35% since 1Q191 everything ✓ Traction with younger generations – 45% Consumer Bank, 45%
Slide 72: Agenda
Agenda Page 1 CCB Overview 1 2 Consumer & Business Banking and Wealth Management 10 3 Consumer Payments, Lending, and Commerce 34 4 Closing Remarks 66 5 Notes 68
Slide 73: Notes on non-GAAP financial measures
Notes on non-GAAP financial measures 1. Adjusted expense excludes CCB legal expense and is a non-GAAP financial measure. Management believes this information helps investors understand the effect of certain items on reported results and provides an alternate presentation of the Firm’s performance 2.
Slide 74: Notes on slide 6
Notes on slide 6 1. Defined as total CCB expense less investments, auto lease expense, legal expense, FDIC surcharge, and geography-related impacts. Total CCB accounts reflect CBB checking accounts (excluding accounts associated with investments and zero-balance accounts), Card statemented accounts,
Slide 75: Notes on slide 7
Notes on slide 7 1. Totals may not sum due to rounding 2. Represents payback associated with travel acquisitions 3. Marketing ROI represents return on total gross marketing acquisitions and distribution expenses, not specific to marketing investments 70
Slide 76: Notes on slide 9
Notes on slide 9 1. In 2020 Merchant Services along with the associated assets, liabilities, revenue, expenses and headcount were realigned to CIB from CCB and CB. Prior-period amounts have been revised to conform with the current presentation 2. Certain wealth management clients were realigned from
Slide 77: Notes on slide 10, 18, 26
Notes on slide 10, 18, 26 1. Federal Deposit Insurance Corporation (“FDIC”) 2021 Summary of Deposits survey per S&P Global Market Intelligence. Applies a $1B deposit cap to Chase and industry branches for market share. Includes all commercial banks, savings banks, and savings institutions as defined
Slide 78: Notes on slide 11
Notes on slide 11 1. Percentage growth may not tie due to rounding 2. Federal Deposit Insurance Corporation (“FDIC”) 2021 Summary of Deposits survey per S&P Global Market Intelligence. Applies a $1B deposit cap to Chase and industry branches for market share. Includes all commercial banks, savings b
Slide 79: Notes on slide 12
Notes on slide 12 1. Users of all mobile platforms who have logged in within the past 90 days, as of 1Q22 2. Reflects Consumer and Business Banking households that visited a branch >=1 time in 2021 3. Reflects number of Consumer and Business Banking customers with a Zelle inflow or outflow in FY 202
Slide 80: Notes on slide 16
Notes on slide 16 1. A household is considered primary bank if it meets one of the following conditions: 15 or more withdrawals from a checking account or more than 5 withdrawals from a checking account and >$500 of inflows in a given month 2. Business Banking primary operating account based on inte
Slide 81: Notes on slide 20
Notes on slide 20 1. Includes Consumer Banking accounts. Out of footprint includes Core Based Statistical Areas (CBSAs) where Chase does not have a branch presence. Mature markets include CBSAs where Chase had a presence prior to 2018 2. Includes Consumer Banking customers. Customer engagement chann
Slide 82: Notes on slide 23
Notes on slide 23 1. Mature markets defined as markets entered prior to 2018 2. As of 2021YE 3. Federal Deposit Insurance Corporation (“FDIC”) 2021 Summary of Deposits survey per S&P Global Market Intelligence. Applies a $1B deposit cap to Chase and industry branches for market share. Includes all c
Slide 83: Notes on slide 24
Notes on slide 24 1. Federal Deposit Insurance Corporation (“FDIC”) 2021 Summary of Deposits survey per S&P Global Market Intelligence. Applies a $1B deposit cap to Chase and industry branches for market share. Includes all commercial banks, savings banks, and savings institutions as defined by the
Slide 84: Notes on slide 25
Notes on slide 25 1. Coverage defined as one or more branches in a CBSA using U.S. Census Population Data. Based on 2017 estimates for 2017 metrics and 2019 estimates for all other time periods. 2. Small business coverage by CBSA based on Dunn and Bradstreet Small Business locations. Small business
Slide 85: Notes on slide 27
Notes on slide 27 Note: Stats as of 2021YE unless otherwise specified 1. Investment estimates for Chase households are based on aggregated and de-identified information in WealthComplete supplied by Equifax Inc 2. Previously known as You Invest Trade 3. Includes accounts and assets from Automated In
Slide 86: Notes on slide 28
Notes on slide 28 Note: Data refers to Chase Wealth Management unless otherwise specified 1. Represents matched pairs analysis based on cohorts of similar Chase customers, for which we observed change in deposits and investments (“D&I”) balances, revenue and attrition rates 21 months after the cohor
Slide 87: Notes on slide 29
Notes on slide 29 Note: Data refers to Chase Wealth Management unless otherwise specified 1. Includes advisors across Chase Wealth Management, J.P. Morgan Advisors, and select legacy offerings 2. Break-even defined as the first year in which an advisor is generating positive pre-tax profit 3. J.P. M
Slide 88: Notes on slide 30
Notes on slide 30 1. Represents matched pairs analysis based on cohorts of similar Chase customers, for which we observed change in deposits and investments (“D&I”) balances, revenue and attrition rates 21 months after the cohorts opened an investment account. Population limited to Chase banking cus
Slide 89: Notes on slide 34, 37, 47, 60
Notes on slide 34, 37, 47, 60 1. Reflects March 2022 last-twelve-months; percentage changes reflects growth since March 2020 last-twelve-months 2. Total payment volumes and transactions reflect Consumer and Small Business customers' digital (ACH, BillPay, PayChase, Zelle, RTP, External Transfers, Di
Slide 90: Notes on slide 35
Notes on slide 35 1. Reflects March 2022 last-twelve-months; percentage change shown vs. March 2020 last-twelve-months 2. Total payment volumes and transactions reflect Consumer and Small Business customers' digital (ACH, BillPay, PayChase, Zelle, RTP, External Transfers, Digital Wires), non-digital
Slide 91: Notes on slide 38
Notes on slide 38 Note: Growth rates may not tie due to rounding 1. Based on 2021 sales volume and loans outstanding public disclosures by peers (C, BAC, COF, AXP, DFS) and JPMorgan Chase estimates. Sales volume excludes private label and Commercial Card. AXP reflects the U.S. Consumer segment and J
Slide 92: Notes on slide 39
Notes on slide 39 1. Based on 2021 sales volume and loans outstanding public disclosures by peers (C, BAC, COF, AXP, DFS) and JPMorgan Chase estimates. Sales volume excludes private label and Commercial Card. AXP reflects the U.S. Consumer segment and JPMorgan Chase estimates for AXP’s U.S. small bu
Slide 93: Notes on slide 40
Notes on slide 40 1. Credit Journey launched in December of 2016; as such, Year 1 users reflects 2017. Year 1 users reflects unique customers who enrolled in Credit Journey, whereas 2021 users reflects number of unique enrolled customers who engaged with Credit Journey in-year; 28 million users metr
Slide 94: Notes on slide 43
Notes on slide 43 Note: Totals may not sum due to rounding; growth rates may not tie due to rounding 1. Gross cash marketing spend represents total outlays in a calendar year, which includes expenses and contra revenues. Contra-revenue may be amortized and not all recognized in the year the outlay w
Slide 95: Notes on slide 45
Notes on slide 45 Note: Growth rates may not tie due to rounding 1. Estimated impact of pandemic on revolving balances and interest income partially offset by benefit of lower credit losses on lower balances 2. Defined as average sales debit active accounts 3. Card account defined as open accounts w
Slide 96: Notes on slide 48
Notes on slide 48 1. Calculated as number of accounts that became 60 days past due (DPD) as a percentage of total accounts less than 60 DPD; excludes estimated impact from Hurricanes Harvey and Irma in 2017 2. Source: Mortgage Bankers Association Quarterly National Delinquency Survey; reflects chang
Slide 97: Notes on slide 50
Notes on slide 50 1. Recapture rate calculated as the percentage of Chase Home Lending customers that paid off a home loan in 2021 and originated an additional loan with Chase through the Consumer channel. Calculation based on Chase internal data and CoreLogic data 2. Represents change in deposits a
Slide 98: Notes on slide 51
Notes on slide 51 1. Source: Freddie Mac Primary Mortgage Market Survey®; reflects weekly average through week ending 5/5/2022 2. Sources: 2021 IMF Originations market size; 2022 market size estimate based on internal Chase analysis 3. Source: S&P Dow Jones Indices LLC, S&P/Case-Shiller U.S. Nationa
Slide 99: Notes on slide 53
Notes on slide 53 Note: All application and funding metrics reflect only the Consumer channel 1. Digital fulfillment capabilities include uploading documents and viewing / signing disclosures 2. Reflects 4Q21 funded loans 3. Reflects 4Q21 digital applications 94
Slide 100: Notes on slide 54
Notes on slide 54 1. Recapture rate calculated as the percentage of Chase Home Lending customers that payoff a home loan and originate an additional loan with Chase through the Consumer channel. Calculation based on Chase internal data and CoreLogic data 2. Represents relative lift in proactive call
Slide 101: Notes on slide 55
Notes on slide 55 Note: Growth rates may not tie due to rounding 1. Experian AutoCount data for FY2021. Reflects financing market share for new and used loan and lease units at franchised and independent dealers 2. Auto Sales Seasonally Adjusted Annual Rate 3. Source: Motor Intelligence 96
Slide 102: Notes on slide 57
Notes on slide 57 1. Peer information sourced from public disclosures 2. Industry delinquency rates on Federal Housing Administration (FHA) backed loans determined based on data sourced from Experian (excludes loans on forbearance); 2022 YTD reflects April ‘22 3. Chase Auto excludes Wholesale (DCS)
Slide 103: Notes on slide 62
Notes on slide 62 1. 2021 combined value of pro-forma Chase Travel sales and spend attributed to Chase Offers 2. 2021 value of pro-forma Chase Travel sales; CAGR reflects 2017-2019 Ultimate Rewards travel sales growth 3. 2021 blended redemption value of redeemable points 4. 2021 combined Debit and C
Slide 104: Notes on slide 63
Notes on slide 63 1. Reflects March 2022 last-twelve-months 2. Based on Travel Weekly Power List 2020, which disclosed 2019 sales volumes; Travel Weekly did not release a ranking in 2021, likely due to Covid impact on 2020 sales volumes; assumes pro-forma Chase Travel sales; Chase Travel and cxLoyal
Slide 105: Notes on slide 64
Notes on slide 64 1. Based on Travel Weekly Power List 2020, which disclosed 2019 sales volumes; Travel Weekly did not release a ranking in 2021, likely due to Covid impact on 2020 sales volumes; assumes pro-forma Chase Travel sales; Chase Travel and cxLoyalty 2019 sales volumes were not publicly di
Slide 106: Notes on slide 66
Notes on slide 66 1. Outlook is dependent on market conditions 2. Based on Travel Weekly Power List 2020, which disclosed 2019 sales volumes; Travel Weekly did not release a ranking in 2021, likely due to Covid impact on 2020 sales volumes; assumes pro-forma Chase Travel sales; Chase Travel and cxLo