Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — Q1 2024 Earnings Presentation
14 slides from Jp Morgan Chase &'s earnings presentation, Apr 12, 2024
Slide 1: 1Q24 Financial Results
1Q24 Financial Results April 12, 2024
Slide 2: 1Q24 Financial highlights
1Q24 Financial highlights CET1 capital ratios2 Std. RWA3 $1.7T ROTCE1 15.0% | Adv. 15.3% Std. $1.5T 21% Cash and marketable securities4 Total Loss-Absorbing Capacity $520B 2 Average loans $1.3T ⚫ 1Q24 net income of $13.4B and EPS of $4.44 – Excluding a $725mm increase to the FDIC special assessment5
Slide 3: 1Q24 Financial results
1Q24 Financial results1 $B, EXCEPT PER SHARE DATA 1Q24 ex. FR $ O/(U) Reported FR impact ex. FR 4Q23 1Q23 Net interest income $23.2 $1.3 $21.9 ($1.0) $1.0 Noninterest revenue 19.3 0.3 19.0 3.8 0.5 Managed revenue 1 $B 1Q24 4Q23 1Q23 42.5 1.7 40.9 2.8 1.5 Net charge-offs $2.0 $2.2 $1.1 Expense Reserv
Slide 4: Fortress balance sheet
Fortress balance sheet $B, EXCEPT PER SHARE DATA STANDARDIZED CET1 RATIO (%)1 1Q24 4Q23 1Q23 78 bps (0 bps) Risk-based capital metrics1 CET1 capital $258 $251 $227 (32 bps) CET1 capital ratio – Standardized 15.0% 15.0% 13.8% 15.0% 15.0% (39 bps) (3 bps) CET1 capital ratio – Advanced 15.3 15.0 13.9 B
Slide 5: Consumer & Community Banking
CCB CIB CB AWM Corp. Consumer & Community Banking1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE (ex. FR) 1Q24 ex. FR $ O/(U) ⚫ Net income of $4.4B, down 15% YoY Reported FR impact ex. FR 4Q23 1Q23 ⚫ Revenue of $16.6B, up 1% YoY, largely driven by higher net interest Revenue $17,653 $1,
Slide 6: Corporate & Investment Bank
CCB CIB CB AWM Corp. Corporate & Investment Bank1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE $ O/(U) ⚫ Net income of $4.8B, up 8% YoY; revenue of $13.6B, flat YoY 1Q24 4Q23 1Q23 ⚫ Banking revenue Revenue $13,633 $2,675 $33 ⚫ IB revenue of $2.0B, up 27% YoY Investment Banking revenue
Slide 7: Commercial Banking
CCB CIB CB AWM Corp. Commercial Banking1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE (ex. FR) 1Q24 ex. FR $ O/(U) ⚫ Net income of $1.6B, up 21% YoY Reported FR impact ex. FR 4Q23 1Q23 ⚫ Revenue of $3.6B, up 3% YoY, driven by higher noninterest revenue Revenue $3,951 $352 $3,599 ($56)
Slide 8: Asset & Wealth Management
CCB CIB CB AWM Corp. Asset & Wealth Management1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE (ex. FR) 1Q24 ex. FR $ O/(U) ⚫ Net income of $1.0B, down 26% YoY Reported FR impact ex. FR 4Q23 1Q23 ⚫ Revenue of $4.7B, down 1% YoY, reflecting net investment valuation gains in the prior year
Slide 9: Corporate
CCB CIB CB AWM Corp. Corporate1 SELECTED INCOME STATEMENT DATA ($MM) FINANCIAL PERFORMANCE (ex. FR) 1Q24 ex. FR $ O/(U) ⚫ Revenue was $2.3B, up $1.3B YoY ⚫ Net interest income was $2.5B, up $737mm YoY, driven Reported FR impact ex. FR 4Q23 1Q23 by the impact of balance sheet mix and higher rates Rev
Slide 10: Outlook
Outlook1 FIRMWIDE Expect FY2024 net interest income of ~$90B, market dependent 1 Expect FY2024 net interest income excluding Markets of ~$89B, market dependent ~$91B, market dependent 2 Expect FY2024 adjusted expense of – Adjusted expense includes the increase to the FDIC special assessment in 1Q24
Slide 11: 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 12: Additional notes
Additional notes 1. Reflects the Current Expected Credit Losses ("CECL") capital transition provisions. As of March 31, 2024, CET1 capital and Total Loss-Absorbing Capacity reflected the final remaining $720mm CECL benefit; as of December 31, 2023 and March 31, 2023, CET1 capital reflected a $1.4B b
Slide 13: Additional notes on slides 4-6
Additional notes on slides 4-6 Slide 4 – Consumer & Community Banking 2. Actual numbers for all periods, not over/(under) 3. Users of all JPMorgan Chase mobile platforms who have logged in within the past 90 days. Excludes First Republic 4. Excludes Commercial Card 5. Firmwide mortgage origination v
Slide 14: 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