Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — Q2 2021 Earnings Presentation
15 slides from Jp Morgan Chase &'s earnings presentation, Jul 13, 2021
Slide 1: 2Q21 Financial Results
2Q21 Financial Results July 13, 2021
Slide 2: 2Q21 Financial highlights
2Q21 Financial highlights ROTCE1 CET1 capital ratios2 Net payout LTM3 23% Std. 13.0% | Adv. 13.8% 45% ◼ 2Q21 net income of $11.9B and EPS of $3.78 – Excluding credit reserve releases4, net income of $9.6B, EPS of $3.03 and ROTCE of 18% Income statement ◼ Managed revenue of $31.4B5 ◼ Expense of $17.7
Slide 3: 2Q21 Financial results
2Q21 Financial results1 $B, except per share data $ O/(U) 2Q21 1Q21 2Q20 Net interest income $12.9 ($0.1) ($1.1) Noninterest revenue 18.5 (1.6) (1.3) Managed revenue1 $B 2Q21 1Q21 2Q20 31.4 (1.7) (2.4) Net charge-offs $0.7 $1.1 $1.6 Expense Reserve build/(release) (3.0) (5.2) 8.9 17.7 (1.1) 0.7 Cred
Slide 4: 2Q21 Reserves
2Q21 Reserves Allowance for credit losses ($B) 2Q21 Jan 1, 2020 Jun 30, 2020 Mar 31, 2021 Build / (release) Jun 30, 2021 Consumer Card $11.2 $17.8 $14.3 ($1.8) $12.5 Home Lending 2.0 3.2 1.4 (0.6) 0.8 Other Consumer1 1.0 1.9 1.5 (0.2) 1.3 Total Consumer 14.2 22.9 17.1 (2.6) 14.5 Wholesale1 4.4 11.4
Slide 5: Fortress balance sheet
Fortress balance sheet $B, except per share data Capital actions 2Q21 1Q21 2Q20 ◼ The Board intends to increase the dividend to $1.00 per share in 3Q21 Risk-based capital metrics1 CET1 capital $209 $206 $191 ◼ Indicative 2021 Stress Capital Buffer (SCB) of 3.2% will be integrated into the CET1 capit
Slide 6: Consumer & Community Banking
CCB CIB CB AWM Corp. Consumer & Community Banking1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $5.6B vs. a net loss of $176mm in 2Q20 2Q21 1Q21 2Q20 ◼ Revenue of $12.8B, up 3% YoY Revenue $12,760 $243 $402 Consumer & Business Banking 6,016 381 768 ◼ Expense of
Slide 7: Corporate & Investment Bank
CCB CIB CB AWM Corp. Corporate & Investment Bank1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $5.0B, down 9% YoY; revenue of $13.2B, down 2Q21 1Q21 2Q20 19% Revenue $13,214 ($1,391) ($3,169) Investment Banking revenue 3,424 573 23 ◼ Banking revenue Wholesale Pa
Slide 8: Commercial Banking
CCB CIB CB AWM Corp. Commercial Banking1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $1.4B vs. net loss of $681mm in 2Q20 2Q21 1Q21 2Q20 ◼ Revenue of $2.5B, up 3% YoY, driven by higher revenue from Revenue $2,483 $90 $83 investment banking, lending and wholesal
Slide 9: Asset & Wealth Management
CCB CIB CB AWM Corp. Asset & Wealth Management1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $1.2B, up 74% YoY 2Q21 1Q21 2Q20 ◼ Revenue of $4.1B, up 20% YoY, largely driven by higher management fees and growth in deposit and loan balances, Revenue $4,107 $30 $67
Slide 10: Corporate
CCB CIB CB AWM Corp. Corporate1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Revenue was a loss of $1.2B ◼ Net interest income was a loss of $961mm, down $274mm 2Q21 1Q21 2Q20 YoY, primarily on limited deployment opportunities as deposit Revenue ($1,169) ($696) ($415) growth
Slide 11: Outlook
Outlook1 Firmwide 1 Expect FY2021 net interest income to be ~$52.5B, market dependent 2 Expect FY2021 Card NCO rate of <2.5% 3 Expect FY2021 adjusted expense of ~$71B, market dependent 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 (the “Federal Reserve”) 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 June 30, 2021, March 31, 2021 and Jun
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. See note 6 on slide 12 4. Excludes Commercial Card 5. Includes the impact of loans originated under the PPP. For further information, see page 12 of the Earnings Release Finan
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