Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — Q3 2021 Earnings Presentation
15 slides from Jp Morgan Chase &'s earnings presentation, Oct 13, 2021
Slide 1: 3Q21 Financial Results
3Q21 Financial Results October 13, 2021
Slide 2: 3Q21 Financial highlights
3Q21 Financial highlights ROTCE1 CET1 capital ratios2 Net payout LTM3 22% Std. 12.9% | Adv. 13.6% 54% ◼ 3Q21 net income of $11.7B and EPS of $3.74 – Excluding significant items4, net income of $9.6B, EPS of $3.03 and ROTCE of 18% Income statement ◼ Managed revenue of $30.4B5 ◼ Expense of $17.1B and
Slide 3: 3Q21 Financial results
3Q21 Financial results1 $B, except per share data $ O/(U) 3Q21 2Q21 3Q20 Net interest income $13.2 $0.3 $0.1 Noninterest revenue 17.3 (1.3) 0.4 Managed revenue 1 $B 3Q21 2Q21 3Q20 30.4 (1.0) 0.5 Net charge-offs $0.5 $0.7 $1.2 Expense Reserve build/(release) (2.1) (3.0) (0.6) 17.1 (0.6) 0.2 Credit co
Slide 4: 3Q21 Reserves
3Q21 Reserves Allowance for credit losses ($B) 3Q21 Jan 1, 2020 Sep 30, 2020 Jun 30, 2021 Build / (release) Sep 30, 2021 Consumer Card $11.2 $17.8 $12.5 ($0.9) $11.7 Home Lending 2.0 2.9 0.8 0.0 0.8 Other Consumer1 1.0 1.8 1.3 (0.0) 1.3 Total Consumer 14.2 22.5 14.5 (0.9) 13.7 Wholesale1 4.4 11.1 8.
Slide 5: Fortress balance sheet
Fortress balance sheet $B, except per share data 3Q21 2Q21 3Q20 Risk-based capital metrics1 CET1 capital $210 $209 $198 CET1 capital ratio – Standardized 12.9% 13.0% 13.1% CET1 capital ratio – Advanced 13.6 13.8 13.8 Firm SLR excl. Leverage-based capital metric2 temporary relief2: 5.8% Firm SLR 5.5%
Slide 6: Consumer & Community Banking
CCB CIB CB AWM Corp. Consumer & Community Banking1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $4.3B, up 12% YoY 3Q21 2Q21 3Q20 ◼ Revenue of $12.5B, down 3% YoY Revenue $12,521 ($239) ($374) ◼ Expense of $7.2B, up 5% YoY, driven by continued investments in Cons
Slide 7: Corporate & Investment Bank
CCB CIB CB AWM Corp. Corporate & Investment Bank1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $5.6B, up 29% YoY; revenue of $12.4B, up 7% YoY 3Q21 2Q21 3Q20 ◼ Banking revenue Revenue $12,396 ($818) $850 ◼ IB revenue of $3.0B, up 45% YoY Investment Banking reven
Slide 8: Commercial Banking
CCB CIB CB AWM Corp. Commercial Banking1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $1.4B, up 30% YoY 3Q21 2Q21 3Q20 ◼ Revenue of $2.5B, up 10% YoY, driven by higher revenue from Revenue $2,520 $37 $235 investment banking and wholesale payments Middle Market B
Slide 9: Asset & Wealth Management
CCB CIB CB AWM Corp. Asset & Wealth Management1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $1.2B, up 36% YoY 3Q21 2Q21 3Q20 ◼ Revenue of $4.3B, up 21% YoY, largely driven by higher management fees and growth in deposit and loan balances, partially Revenue $4,3
Slide 10: Corporate
CCB CIB CB AWM Corp. Corporate1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Revenue was a loss of $1.3B ◼ Net interest income was a loss of $1.1B, down $372mm YoY, 3Q21 2Q21 3Q20 primarily on limited deployment opportunities as deposit growth Revenue ($1,296) ($127) ($957) c
Slide 11: Outlook
Outlook1 Firmwide 1 Expect FY2021 net interest income to be ~$52.5B, market dependent 2 Expect FY2021 adjusted expense of ~$71B, market dependent 3 Expect FY2021 Card NCO rate of ~2.0% 1 See notes 1 and 4 on slide 11 10
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 relief provided by the Federal Reserve Board in response to the COVID-19 pandemic, including the CECL capital transition provisions that became effective in the first quarter of 2020. For the periods ended September 30, 2021, June 30, 2021 and September 30, 2020, the
Slide 14: Additional notes on slides 5-7
Additional notes on slides 5-7 Slide 5 – 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. Includes the impact of loans originated under the PPP. For further info
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