JPMorgan Chase & Co. Q1 Earnings Call Highlights

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• The proposed Basel III Endgame and G-SIB reproposals would materially raise capital needs, estimating roughly a $20 billion increase in G-SIB capital and a planned surcharge of 5.2% by 2028

  60% confidence

• Expenses reflected the absence of an FDIC special accrual release in the prior year

  60% confidence

• JPMorgan currently measures around $40 billion of excess capital while prioritizing business growth over buybacks

  60% confidence

• Revenue of $50.5 billion increased 10% year over year, primarily due to higher markets revenue, higher asset management and investment banking fees, and higher NII driven by balance sheet growth, partially offset by lower rates

  60% confidence

• The standardized CET1 ratio ended the quarter at 14.3%, down 30 basis points from the prior quarter, as net income was more than offset by capital distributions and higher risk-weighted assets

  60% confidence

• For full-year 2026 the firm expects NII ex-markets of about $95 billion (total NII ~$103 billion), adjusted expenses of ~$105 billion

  60% confidence

• The regulatory proposals' methodology is insufficiently risk-sensitive

  60% confidence

• JPMorgan reported net income of $16.5 billion and earnings per share of $5.94, producing a return on tangible common equity (ROTCE) of 23%

  60% confidence

• Expenses of $26.9 billion were up 14% year over year, largely driven by higher compensation, including higher revenue-related compensation and growth in front office employees, along with higher brokerage expense and distribution fees

  60% confidence

• Standardized RWA rose $60 billion, primarily driven by the Markets business, reflecting higher client activity, seasonal effects, and higher energy prices that increased market and credit risk RWAs ex lending

  60% confidence

Data points we hold from this source