Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — Q2 2022 Earnings Presentation
14 slides from Jp Morgan Chase &'s earnings presentation, Jul 14, 2022
Slide 1: 2Q22 Financial Results
2Q22 Financial Results July 14, 2022
Slide 2: 2Q22 Financial highlights
2Q22 Financial highlights ROTCE1 CET1 capital ratios2 Net payout LTM3 17% Std. 12.2% | Adv. 12.8% 55% ◼ 2Q22 net income of $8.6B and EPS of $2.76 Income statement ◼ Managed revenue of $31.6B4 ◼ Expense of $18.7B and managed overhead ratio of 59% 4 ◼ Loans: average loans of $1.1T up 7% YoY and up 2%
Slide 3: 2Q22 Financial results
2Q22 Financial results1 $B, except per share data $ O/(U) 2Q22 1Q22 2Q21 Net interest income $15.2 $1.3 $2.4 Noninterest revenue 16.4 (1.2) (2.1) Managed revenue 1 $B 2Q22 1Q22 2Q21 31.6 0.0 0.2 Net charge-offs $0.7 $0.6 $0.7 Expense 18.7 (0.4) 1.1 Reserve build/(release) 0.4 0.9 (3.0) Credit costs
Slide 4: Fortress balance sheet
Fortress balance sheet $B, except per share data Standardized risk-weighted assets QoQ ($B) 2Q22 1Q22 2Q21 1,751 Risk-based capital metrics1 1,707 CET1 capital $207 $208 $209 Normalization CET1 capital ratio – Standardized 12.2% 11.9% 13.0% from 1Q22 levels CET1 capital ratio – Advanced 12.8 12.7 13
Slide 5: Consumer & Community Banking
CCB CIB CB AWM Corp. Consumer & Community Banking1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $3.1B vs. $5.6B in 2Q21, reflecting the absence of 2Q22 1Q22 2Q21 the credit reserve release recorded in the prior year Revenue $12,614 $385 ($146) ◼ Revenue of $12.6
Slide 6: Corporate & Investment Bank
CCB CIB CB AWM Corp. Corporate & Investment Bank1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $3.7B, down 26% YoY; revenue of $11.9B, down 2Q22 1Q22 2Q21 10% YoY Revenue $11,947 ($1,582) ($1,267) ◼ Banking revenue Investment Banking revenue 1,351 (706) (2,073)
Slide 7: Commercial Banking
CCB CIB CB AWM Corp. Commercial Banking1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $1.0B, down 30% YoY, driven by a net credit reserve 2Q22 1Q22 2Q21 build compared to a net release in the prior year Revenue $2,683 $285 $200 ◼ Revenue of $2.7B, up 8% YoY, dri
Slide 8: Asset & Wealth Management
CCB CIB CB AWM Corp. Asset & Wealth Management1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Net income of $1.0B, down 13% YoY 2Q22 1Q22 2Q21 ◼ Revenue of $4.3B, up 5% YoY, predominantly driven by growth in deposits and loans on higher balances and margins, partially offset R
Slide 9: Corporate
CCB CIB CB AWM Corp. Corporate1 Selected income statement data ($mm) Financial performance $ O/(U) ◼ Revenue was $80mm ◼ Net interest income was $324mm compared with a loss of 2Q22 1Q22 2Q21 $961mm in the prior year, predominantly due to the impact of Revenue $80 $961 $1,249 higher rates Expense 206
Slide 10: Outlook
Outlook1 Firmwide 1 Expect FY2022 net interest income excluding Markets to be $58B+, market dependent 2 Expect FY2022 adjusted expense of ~$77B, market dependent 3 Expect FY2022 Card NCO rate of <2% 1 See notes 1, 2 and 4 on slide 10 9
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 relief provided by the Federal Reserve Board in response to the COVID-19 pandemic, including the Current Expected Credit Losses ("CECL") capital transition provisions. Beginning January 1, 2022, the $2.9B CECL capital benefit recognized as of December 31, 2021, is be
Slide 13: Additional notes on slides 4-6
Additional notes on slides 4-6 Slide 4 – Consumer & Community Banking 3. Actual numbers for all periods, not over/(under) 4. Users of all mobile platforms who have logged in within the past 90 days 5. Excludes Commercial Card 6. Includes the impact of loans originated under the PPP. For further info
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