Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — Q2 2023 Earnings Presentation
15 slides from Jp Morgan Chase &'s earnings presentation, Jul 14, 2023
Slide 1: 2Q23 Financial Results
2Q23 Financial Results July 14, 2023
Slide 2: 2Q23 Financial highlights
2Q23 Financial highlights CET1 capital ratios2 Std. RWA3 $1.7T ROTCE1 13.8% | Adv. 13.9% Std. $1.4T 25% Cash and marketable securities4 Total Loss-Absorbing Capacity $494B 2 Average loans $1.2T ⚫ 2Q23 net income of $14.5B and EPS of $4.75 – Excluding significant items5, 2Q23 net income of $13.3B, EP
Slide 3: First Republic integration update
First Republic integration update CONTINUED PROGRESS ON MIGRATION ⚫ FDIC and transaction settlement: The settlement process with the FDIC is on schedule ⚫ Branches: 21 branches left behind with the FDIC; the remaining 63 are being actively evaluated for conversion to Chase, JPM Wealth Management or
Slide 4: 2Q23 Financial results
2Q23 Financial results1 $B, EXCEPT PER SHARE DATA 2Q23 ex. FR $ O/(U) Reported FR impact ex. FR 1Q23 2Q22 Net interest income $21.9 $0.9 $21.0 $0.2 $5.8 Noninterest revenue 20.5 3.1 17.4 (1.1) 1.0 Managed revenue 1 $B 2Q23 1Q23 2Q22 42.4 4.0 38.4 (1.0) 6.7 Net charge-offs $1.4 $1.1 $0.7 Expense Rese
Slide 5: Fortress balance sheet
Fortress balance sheet FR impact $B, EXCEPT PER SHARE DATA STANDARDIZED CET1 RATIO (%)1 2Q23 1Q23 2Q22 5 bps 86 bps 1 Risk-based capital metrics (29 bps) CET1 capital $236 $227 $207 CET1 capital ratio – Standardized 13.8% 13.8% 12.2% 13.8% 13.8% (53 bps) (9 bps) CET1 capital ratio – Advanced 13.9 13
Slide 6: Consumer & Community Banking
CCB CIB CB AWM Corp. Consumer & Community Banking1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE (ex. FR) 2Q23 ex. FR $ O/(U) ⚫ Net income of $5.0B, up 61% YoY Reported FR impact ex. FR 1Q23 2Q22 ⚫ Revenue of $16.4B, up 31% YoY, driven by higher net interest income Revenue $17,233 $831
Slide 7: Corporate & Investment Bank
CCB CIB CB AWM Corp. Corporate & Investment Bank1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE $ O/(U) ⚫ Net income of $4.1B, up 10% YoY; revenue of $12.5B, up 4% YoY 2Q23 1Q23 2Q22 ⚫ Banking revenue Revenue $12,519 ($1,081) $516 ⚫ IB revenue of $1.5B, up 11% YoY, or down 7% excluding
Slide 8: Commercial Banking
CCB CIB CB AWM Corp. Commercial Banking1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE (ex. FR) 2Q23 ex. FR $ O/(U) ⚫ Net income of $1.5B, up 54% YoY Reported FR impact ex. FR 1Q23 2Q22 ⚫ Revenue of $3.8B, up 42% YoY, predominantly driven by higher deposit margins, partially offset by l
Slide 9: Asset & Wealth Management
CCB CIB CB AWM Corp. Asset & Wealth Management1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE (ex. FR) 2Q23 ex. FR $ O/(U) ⚫ Net income of $1.1B, up 10% YoY Reported FR impact ex. FR 1Q23 2Q22 ⚫ Revenue of $4.6B, up 8% YoY, driven by higher deposit margins on lower balances and higher m
Slide 10: Corporate
CCB CIB CB AWM Corp. Corporate1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE (ex. FR) 2Q23 ex. FR $ O/(U) ⚫ Revenue was $1.0B, up $905mm YoY ⚫ Net interest income was $1.8B, compared with $324mm in Reported FR impact ex. FR 1Q23 2Q22 the prior year, due to the impact of higher rates Re
Slide 11: Outlook
Outlook1 FIRMWIDE 1 Expect FY2023 net interest income and net interest income excluding Markets of ~$87B, market dependent ~$84.5B excluding the FDIC special assessment related to systemic risk 2 Expect FY2023 adjusted expense of determination, market dependent 3 Expect FY2023 Card Services NCO rate
Slide 12: 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 13: Additional notes
Additional notes 1. Reflects the Current Expected Credit Losses ("CECL") capital transition provisions. Beginning January 1, 2022, the $2.9B CECL capital benefit is being phased out at 25% per year over a three-year period. As of June 30, 2023 and March 31, 2023, CET1 capital and Total Loss-Absorbin
Slide 14: Additional notes on slides 5-7
Additional notes on slides 5-7 Slide 5 – Consumer & Community Banking 3. Actual numbers for all periods, not over/(under); FR numbers represent applicable balance only for the period of the quarter from the date of the transaction, May 1, 2023 through June 30, 2023; FR contribution to 3 month averag
Slide 15: 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