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JPMorgan Chase & Co.
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== Financials == === Historic === ==== Most recent quarter (2Q23) ==== In the 2nd quarter of 2023 (2Q23), JPMorgan Chase & Co have released a strong earnings report showing a net income of $14.5 billion, with profits soaring 67% compared to the previous year. This was largely due to the bank being a big lender, with their balance sheet boasting loans of $1.2T, up 10% since the previous quarter. The bank has therefore benefitted significantly as a result of the current economic climate with constant interest rate hikes and rising inflation increasing yields on loans. Another reason for the strong quarterly results was due to gains from the acquisition of First Republic, the failed bank that it had acquired in May 2023. <ref>https://www.jpmorganchase.com/ir/quarterly-earnings</ref> * Managed revenue rose by 34% to $42.4 billion, beating analyst expectations of $38.4 billion. * Deposits have gone up 3% compared to the previous quarter but are still down overall by 6% compared to the previous year. * Common dividend paid out of $2.9B ($1.00 per share), with $1.8B of common stock net repurchases. * Total assets under management for the Asset & Wealth Management division as of 2Q23 are $3.2 trillion, up 16%. * In contrast, the revenue from investment banking (CIB) operations fell 6% in M&A and 10% in trading from the previous year. However, when looking across the sector for investment banking we see that this was less than competitor Citi bank which had losses of 24% and 13% respectively within the same divisions.<ref>https://www.citigroup.com/global/investors/quarterly-earnings</ref> Furthermore, Goldman Sachs has reported a quarterly drop of 58% in profits compared to the previous year. <ref>https://www.goldmansachs.com/media-relations/press-releases/2023/2023-07-19-q2-results.html</ref> In conclusion, we see that for 2Q23 JPMorgan Chase & Co has performed very strongly and continues to be a leading bank during a troubled macroeconomic climate. ==== Most recent year ==== For the fiscal year 2022, JP Morgan reported a net income of $35.89 billion. The annual revenue was $128.7 billion, an increase of 5.79% over the previous year. ==== All periods ==== ==== Historic financials ==== {| class="wikitable" |+ !Year !1 !2 !3 !4 !5 !6 !7 !8 !9 !10 |- !Year end date !31/12/2013 !31/12/2014 !31/12/2015 !31/12/2016 !31/12/2017 !31/12/2018 !31/12/2019 !31/12/2020 !31/12/2021 !31/12/2022 |- ! colspan="11" |'''Income Statement''' |- |Revenues ($'billion) |97.37 |95.11 |93.54 |96.57 |100.71 |108.78 |115.72 |119.95 |121.65 |128.7 |- |Net income ($'billion) |16.56 |20.08 |22.65 |22.83 |22.57 |30.71 |34.64 |27.41 |46.5 |35.89 |- ! colspan="11" |'''Balance Sheet''' |- |Total assets ($'billion) |2416 |2572 |2351 |2491 |2534 |2623 |2687 |3385 |3744 |3666 |- ! colspan="11" |'''Other''' |- |Employees ('000) |251 |241 |235 |243 |253 |256 |257 |255 |271 |294 |}
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